‘Graafflatie’ has been chosen as Word of the Year 2023 by Van Dale. The dictionary publisher has that announced on Tuesday. The word received 65 percent of the almost 15,000 votes cast. Last year ‘climate stick’ won the election.
Price inflation is when the price of a product is raised more than necessary in times of inflation to keep one’s own profits high. Van Dale’s official definition is: “Inflation fueled by companies that fully or excessively pass on cost increases in raw materials, inputs and labor to consumers in order to maintain or increase their profits.”
The term comes from the English greedflation and is a contraction of greed and inflation. The word appeared often in the media in the spring, when significant gains were made in certain economic sectors while prices for consumers rose. A debate broke out about whether the price increases were disproportionate and whether there was grab inflation.
‘Graafflatie’ won over ‘joyful beer’, which finished in second place with almost 7 percent of the votes, and the word ‘nepobaby’, which came in third place with more than 5 percent of the votes. Van Dale nominated ten words for the title Word of the Year 2023, based on submissions from the Dutch public. Other contenders were: administrative shame, heat fit, sports fluencer, TikTok justice, bullying tax, wokewashing and x’s.
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