September 9, 2022
Due to the uncertainty surrounding whether Russia will cut off gas supplies, energy costs in the Netherlands increased by 12% in August, setting a record high for inflation. According to the government’s statistics office CBS, food expenditures increased by 13.1% compared to a year ago, and housing costs also contributed to the rise. Average prices for dairy items have increased by 18%, meat by 17%, and coffee by 20%. After falling in the previous three months from its previous peak of 9.7% in March, inflation increased to 10.3% in July. The CBS reported that August’s figure surpassed the previous record of 11.1% established in January 1975 to become the highest since it began keeping statistics in 1963.
Not all commodities had an increase in inflation in August: petrol and diesel saw increases of 16.7% and 24.6%, respectively, and the pace is projected to decline in the months ahead given that the price increase started last autumn. According to a report released by the UN on Monday, August saw a fifth straight month of declining global food prices. Its food price index, which analyzes the prices of five important commodities, was 13.3% lower than when it peaked in April but was still 7.9% higher than where it was a year earlier.
Source: DutchNews.nl
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