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Financial News: Dutch Inflation Accelerates To Record 12%

Dutch Inflation Accelerates To Record 12%

09/06/2022 - 04:09:00 (RTTNews)

(RTTNews) - The Netherlands' inflation accelerated further in August to set a new record and continued to be driven by higher energy prices, preliminary data from the Central Bureau of Statistics showed on Tuesday.

The consumer price index rose 12.0 percent year-on-year following a 10.3 percent increase in July. Headline inflation accelerated for a second straight month.

Energy inflation shot up to 151 percent from 108 percent in the previous month. Food prices rose 13.1 percent annually after a 12.3 percent increase in July. Higher prices for clothing also contributed to inflation.

Motor fuel prices rose 16.7 percent year-on-year following a 24.6 percent increase in the previous month.

The EU measure of inflation, the harmonized index of consumer price inflation or HICP, was 13.7 percent in August, which was slightly higher than the flash estimate of 13.6 percent. In July, inflation was 11.6 percent.

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