Financial News: Dutch Inflation Confirmed At 17-Month High

Dutch Inflation Confirmed At 17-Month High

01/14/2025 - 02:08:00 (RTTNews)

(RTTNews) - Dutch inflation accelerated marginally as initially estimated in December to the highest level in nearly one-and-a-half years, the latest data from the Central Bureau of Statistics showed on Tuesday.

Consumer prices logged an annual increase of 4.1 percent in December, after a 4.0 percent rise in November. That was in line with the flash data published on January 7.

Further, this was the highest inflation since July 2023, when prices had risen 4.6 percent.

A stay in bungalow parks caused the largest increase in inflation, which was 26.1 percent more expensive in December compared to last year.

Inflation based on the Harmonized Index of Consumer Prices, or HICP, also increased slightly to 3.9 percent from 3.8 percent in November, as estimated.

The annual price growth in food, beverages, and tobacco accelerated to 3.0 percent in December from 2.5 percent a month ago. Similarly, transport costs grew faster at 2.2 percent versus 1.5 percent in November. Meanwhile, clothing and footwear prices dropped 0.2 percent.

The average annual inflation rate for 2024 was 3.3 percent versus 3.8 percent in 2023, the agency said. The price developments of housing and tobacco made the largest contribution to inflation in 2024.

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