Dutch inflation leaps to 17%, boosted by high energy prices

AMSTERDAM – Inflation in the Netherlands jumped in September to its highest in decades, driven by skyrocketing energy prices, the statistics agency (CBS) said on Friday.

Consumer prices, harmonized to be comparable with inflation data from other European Union countries (HICP), rose to 17.1 percent this month after August’s jump to 13.7 percent.

Energy prices in the euro zone’s fifth largest economy were 114 percent higher than in September 2022, while food prices jumped 10.5 percent.

Inflation helped drive retail sales up 2 percent in August, the CBS said, even though sales volumes dropped 6% as consumer confidence has hit an all-time low.

This month, the Dutch government said it would spend about 18 billion euros next year to help people pay their bills, and also capped the prices of gas and electricity.