Inflation in the Netherlands rose to another record high of 12
percent in August from 10.3 percent in July, the Dutch Central
Bureau of Statistics (CBS) reported on Tuesday, Trend reports citing
Xinhua.
Energy prices remained the main driving force behind this
growth, but the rising costs of groceries and housing costs also
emerged as key contributors. Energy was 151 percent more expensive
in August than in the same month one year earlier. In July, this
figure was 108 percent.
The high inflation rate leads to uncertainty about the future of
the Dutch economy, Professor Olaf van Vliet, head of the Department
of Economics at Leiden University, told Xinhua.
Currently, inflation is largely driven by energy prices, which
are mainly dependent on the course of the conflict in Ukraine and
on the developments in the gas market, van Vliet said.
“Also important are the effects of the monetary policies
worldwide and the decisions by central banks to raise interest
rates,” he said. “The question here is not whether these have an
effect, but when they will have an effect and at what level.”
The CBS has been monitoring inflation on a monthly basis since
1963. The previous record dates back to January 1975, when
inflation was 11.1 percent during the oil crisis.
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