Dutch inflation hits 10-year high

Inflation in the Netherlands hit a 10-year high of 3.3% in October, as calculated according to the EU’s Harmonised Index of Consumer Prices method.

This was well above the eurozone average of 2.5%, and was the highest rate of price increases recorded for a decade.

Statistics Netherlands (Centraal Bureau vor de Statistiek,CBS) has reported that inflation according to its standard method hit 2.9% in October, its highest level in four years, and up 0.6% on September’s figure.

A key driver of the rise in prices was the increased value added tax (VAT) rate, which rose to 21% from 19%.

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