The Netherlands is not alone: ​​other euro countries also struggle with high inflation | Money

Figures from European Statistical Office Eurostat show that life is also becoming considerably more expensive in many other euro countries. Inflation averaged 7.5 percent, compared to 5.9 percent in February. As in previous months, this is a new record. Since the introduction of the euro, prices have not risen as fast as last month.

With an inflation rate of 12 percent, the Netherlands is in the group of countries with the highest price increases, together with Lithuania (+15.6%), Estonia (+14.8%), and Latvia (+11.2%). Expensive energy in particular drives up inflation. In addition, food prices have risen. For example, the war in Ukraine has made grain scarcer, pushing up the price of many foodstuffs.

Dutch people who want to cross the border for cheaper products are therefore disappointed. Although refueling in Belgium is slightly cheaper, the shopping bill there also rises enormously. In France, energy prices have been frozen, which means that heating can be increased by a degree.

According to Eurostat, our southern neighbors are struggling with an inflation rate of 9.3 percent. According to Prime Minister Alexander De Croo, the federal government will take measures in the coming weeks to protect purchasing power. Belgium has already taken measures to tackle high energy prices. For example, the VAT on electricity and gas fell to 6 percent. Excise duties on diesel and petrol also fell.

In Belgium, the automatic linkage of wages to inflation also plays a role. In contrast to the Netherlands, wages rise when prices rise. Something positive at first glance, but higher wages could trigger new price increases.

The situation is slightly less bleak for the French. An increase in inflation there was ‘limited’ to 5.1 percent. The decision to freeze energy prices at October levels plays a major role in this. This measure will cost the government, ie the taxpayer, tens of billions. A while ago, the government also decided to tackle fuel prices. There is also great pressure in France to repair purchasing power, due to the presidential elections taking place on April 10.

Lithuania has the thankless honor of being in first place. With an inflation rate of more than 15 percent, they leave countries such as Malta (4.6%), Portugal (5.5%) and Finland (5.6%) far behind. Energy prices also play a role here. To prevent citizens from being left behind in cold homes, the government decided to (temporarily) bring the VAT to zero.

Although all governments in the European Union are taking measures, the end of rising prices is not yet in sight. The excise duty on fuel has been reduced in the Netherlands from Friday, but Prime Minister Mark Rutte has already warned that declining purchasing power is unavoidable this year.

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