Business Hub – Amsterdam
Consumer prices in the Netherlands rose by 10.3% year on year last July, Inflation exceeded 10% for the first time since September 1975, According to the Dutch Central Bureau of Statistics announced.
“The increase in inflation is mainly due to the rise in energy prices and house rents,” the office said in a statement.
He pointed out that “inflation exceeds 10% for the first time since September 1975.” The increase in consumer prices in the Netherlands in June was 8.6%.
He stated that “energy resources are currently a major contributor to global inflation”.
The rate of increase in the prices of energy resources (electricity, gas and heating in cities) reached 108%, compared to 84% in June.
The office indicated that since the first of July 2022, The value-added tax on energy resources has been temporarily reduced from 21% to 9%. This reduction will continue until December 31, 2022.
House rents also contributed to the increase in inflation. The office stated that, according to preliminary figures, Home rents were 3% higher in July 2022 compared to the same period last year.
Food prices (+2.3%), especially dairy products, sugar and sweets, also contributed to the increase in the overall inflation rate last month.