News CBS
Dutch inflation makes a big jump in March
Inflation in the Netherlands made a huge jump on an annual basis in March and - calculated according to the European method (HICP) - amounts to 11,9%. This is reported by the Central Bureau of Statistics (CBS). Last month, inflation fell slightly from 7,6% in January to 7,3% in February.
Energy and fuel prices were the main culprit last month. They rose 102,9% compared to last year in March (51,7% in February). Foods, beverages and tobacco increased by 5,5% (4,6% in February). Industrial goods rose 4,2% in price (4,1% in February) and services 2,1% (1,8% in February).
The war in Ukraine is a major driver of inflation. President of the Dutch Central Bank, Class Knots, said last month that the impact of the war on the economy could become "very substantial." Edin Mujagic, chief economist at OHV Asset Management recently gave an interview in the studio of Boerenbusiness shows that rising inflation will increasingly hurt entrepreneurs in the food chain - from agricultural entrepreneurs, processors, producers to retail. They are already struggling with the effects of rising costs that they try to pass on to final customers. That will remain the challenge in the coming months, according to Mujagic.
Statistics Netherlands calculates two different figures for inflation. One based on the Consumer Price Index (CPI) - to be published next week - and one based on the Harmonized Index of Consumer Prices (HICP). With this last figure inflation in the eurozone can be compared. Inflation according to CPI was 6,2% in February.
Linda van Eekeres
© DCA Market Intelligence. This market information is subject to copyright. It is not permitted to reproduce, distribute, disseminate or make the content available to third parties for compensation, in any form, without the express written permission of DCA Market Intelligence.
