Financial News: Dutch Inflation Rises More Than Estimated

Dutch Inflation Rises More Than Estimated

(RTTNews) - Dutch consumer price inflation increased slightly more than initially estimated in July, the latest data from the Central Bureau of Statistics showed on Tuesday.

Consumer prices logged an annual increase of 3.2 percent in July, faster than the 2.9 percent rise in June. In the flash estimate, the inflation rate was 3.1 percent. Prices have been rising since November 2023.

Inflation based on transportation quickened to 8.6 percent from 6.9 percent amid a 22.0 percent surge in motor fuel costs. Energy prices were 1.1 percent more expensive compared to a 1.8 percent decline in June.

The annual price growth housing and utilities accelerated to 3.8 percent from 3.6 percent, while prices for food and non-alcoholic beverages dropped further by 0.5 percent.

The Central Bureau of Statistics noted that expanded import duties on consumer goods ordered from outside the European Union contributed to upward price pressures.

On a monthly basis, consumer prices climbed 1.6 percent, as estimated.

The EU's harmonized index of consumer prices, the standard inflation measure across the bloc, increased 3.0 percent annually in July versus 2.5 percent in June. The harmonized rate was revised upward from an earlier estimate of 2.9 percent.

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