Dutch inflation hits 17% and German food inflation 19%

Inflation squeezing wallets - Image Stevepb/Pixabay

Dutch inflation has hit a staggering 17 per cent fuelled by the high energy costs that have affected all of Europe.

The figures released on Friday, September 30 show that inflation is fast getting out of control with prices rising at unprecedented rates.

Inflation in the Eurozone has hit 10 per cent for the first time in history but that number is largely overshadowed in the Netherlands and in Germany.

Dutch energy prices are up 114 per cent on the same time last year feeding the rising inflation rate, with food prices also jumping upwards to 10.5 per cent.

In real terms, retail sales are down six per cent as people cut back on their purchases, with consumer confidence at an all-time low. The rate of inflation should slow, however, with the government set to spend €18 billion on helping people to pay their bills. They will also be capping the price of gas and electricity.

Germany, which is in danger of going into recession, has also been badly hit by the rising costs.

Food costs in the country have risen eye-watering 19 per cent in the year ended September, significantly higher than any other country in the Eurozone.

Although the EU has taken steps to cap the cost of energy, shortages and wage rises continue to drive inflation upwards with Dutch inflation hitting to top of the leaderboard at 17 per cent.


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Written by

Peter McLaren-Kennedy

Originally from South Africa, Peter is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

Comments


    • James Billington

      01 October 2022 • 11:06

      There is no inflation, there are only bent policiticians + (B)ankers making it happen

      Reply

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