Dutch inflation rate climbed to the highest level since 2008

Dutch inflation rate climbed to the highest level since 2008

According to the latest figures released by Statistics Netherlands, the Dutch inflation rate climbed to 3.1 percent in July, the highest level since September 2008. In June, consumer prices were 2.9 percent up from one year previously.

The rent increase contributed substantially to inflation. Phone rates, prices of internet services and clothing prices also had an upward effect on inflation. The price of natural gas and new car prices had a downward effect on inflation.

The rent increase averaged 4.5 percent in July, the highest increase since July 1995. In recent years, the rent increase for most types of residential property was not allowed to exceed the inflation rate of the preceding year. On 1 July 2013, the new rent policy took effect and the maximum rent increase currently equals the inflation rate of the preceding year plus an income-related percentage.

According to the harmonised consumer price index (HICP), inflation in the Netherlands fell by 0.1 percentage points in July to 3.1 percent. The eurozone inflation rate remained stable at 1.6 percent in July.

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