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%.