Inflation in the Netherlands Reaches 10.3% in July for 1st Time Since 1975 - Statistics Agency
23:19 GMT 04.08.2022 (Updated: 13:36 GMT 06.08.2022)
© Photo : Pixabay/Laura Montagnani View on water channel in Amsterdam, the Netherlands
© Photo : Pixabay/Laura Montagnani
PARIS (Sputnik) - The inflation in the Netherlands reached 10.3 percent in July for the first time since 1975, the Dutch Central Bureau of Statistics (CBS) said.
According to CBS, in June the prices grew by 8.6 percent. The record inflation is caused by the increasing prices for energy sources, food products and rent fees.
Energy prices in July grew by 108 percent compared to the same month of the previous year, while the prices for food products grew by 12.3 percent. Grain, dairy products, sugar and ice cream were the food products whose prices increased most drastically.
The 10.3 percent inflation in July was registered via the Dutch system of calculation while the EU method provided an even higher figure: 11.6 percent.
The European countries, including the Netherlands, are facing record inflation because of the economic sanctions imposed on Russia over its military operation in Ukraine.