THE HAGUE (AFP) – Dutch inflation hit a new record of 14.5 per cent in September due to soaring energy prices following Russia’s invasion of Ukraine, official figures showed yesterday.
The Netherlands, the European Union’s (EU) fifth largest economy, now has one of the highest rates of inflation in Europe as it tries to end its reliance on Russian gas.
The 14.5-per-cent increase year-on-year in September comes after inflation hit what was then a record 12 per cent in August.
“The rise in inflation was mainly due to the price development of energy,” the Netherlands Central Bureau of Statistics (CBS) said in a statement.
“Energy was 200 per cent more expensive in September than in the same month last year.”
The Dutch government announced an “unprecedented” EUR17.2-billion package in September to help citizens facing inflation and huge energy costs.
Dutch King Willem-Alexander was booed by some in the crowd as he opened Parliament at the time, as opinion polls show dipping confidence in Prime Minister Mark Rutte’s government.