Inflation in the Netherlands rose to 12 percent in August, from 10.3 percent a month earlier. A new record for the Netherlands, Statistics Netherlands (CBS) reported, using its own calculation method.
Last week, CBS published inflation figures based on the European harmonized method. That showed that prices in the Netherlands rose by 13.6 percent on average.
Energy was 151 percent more expensive in August than in the same month a year earlier. In July, it was 108 percent more expensive. Clothing and food also rose in price. CBS highlighted pasta products as becoming considerably more expensive.
More and more economists fear that the eurozone economy could end up in recession due to interest rate hikes and high inflation as households’ purchasing power faces severe pressure and people are more likely to stick to their budget. Some companies have also shut down production due to high energy costs.