Financial News: Dutch Inflation Confirmed At 16-Month High

Dutch Inflation Confirmed At 16-Month High

12/10/2024 - 01:54:00 (RTTNews)

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

Consumer prices logged an annual increase of 4.0 percent in November, faster than October's stable rise of 3.5 percent. That was in line with the flash data published on November 29.

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

The price development of motor fuels had the largest upward effect on the development of inflation. The annual decrease in motor fuel prices softened to 1.5 percent from 7.0 percent in October. As a result, transport costs rebounded 1.5 percent.

The price development of airline tickets and clothing also contributed to the increase in inflation, the agency said.

Inflation based on the Harmonized Index of Consumer Prices, or HICP, rose to 3.8 percent from 3.3 percent, as estimated.

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