Data from Statistics Netherlands (CBS) indicates that the inflation rate in the Netherlands increased in September to 3.3 percent in comparison to the year before. The rise was larger than August's inflation of 2.8 percent and is the highest level since May, when the rate was again at 3.3 percent.
2 months Ago
September's increase follows several months of fluctuating inflation, with August recording the lowest reading to this point in the year, while April recorded the highest reading of 4.1 percent.
Economists suggest that inflation in the Netherlands has been due to a mixture of energy prices, fuel costs, and general trends with European economies.
Energy and Fuel Considerations
One of the factors for the increase in inflation in September is the rise in energy and fuel costs of upwards of 4 percent, in comparison to the same month one year before. In comparison, the annual increase year-over-year in energy and fuel in August was only 1.6 percent.
An increase in energy prices impacts households and businesses alike, with costs reflected across everything from electricity and heat to transport.
There is no end in sight for household finances, as continued rises in energy prices impact for many membersFor families, it translates into higher monthly utility bills, and for businesses, it means more cost of production and transportation.
Economists are of the view that these increases are often transmitted through the economy, impacting prices of goods and services regardless of energy
European Context
Taking inflation in the broader European context, the harmonized European measure excludes housing ownership costs, shows Dutch inflation was at.
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