Inflation in the Netherlands was 10.3 percent last month. It is the first time since 1975 that inflation has risen above 10 percent, according to statistics agency CBS.
Energy in particular became more expensive last month, more than 100 percent compared to the same month last year. Statistics Netherlands looks at the prices of new energy contracts. The VAT reduction on energy came into effect on July 1, but the price nevertheless rose by 108 percent compared to a year earlier.
And our food and drink became significantly more expensive compared to a year ago. According to CBS, a basket of groceries was on average 12.3 percent more expensive than a year ago. “Grain products, dairy products and sugar and confectionery, including ice cream, contributed the most to this development.”
And rents also caused the overall price level to rise so sharply.
We have to go all the way back to September 1975 for an inflation rate above 10 percent.