04 November 2021, by Victoria Séveno
Figures from Statistics Netherlands (CBS) have revealed that inflation in the Netherlands has reached its highest point in almost 20 years. In October 2021, the prices of goods and services were 3,4 percent higher than in October 2020.
Cost of living in the Netherlands continues to rise
You might have noticed that, over the past few months, life in the Netherlands has gotten considerably more expensive, but information from CBS shows precisely how much difference one year has made to the prices of goods and services across the country.
Inflation in the Netherlands has been steadily rising since the summer and, according to CBS, it reached 3,4 percent in October – its highest level since April 2002. October also saw key manufacturers warn that the price of a weekly shop will also continue to rise, thanks to higher production and transportation costs. This year has already seen the prices of a number of items – namely beer and personal care products – rise by over 6,5 percent.
Effect of energy crisis on the prices of Dutch goods and services
These recent price hikes can be attributed to a number of factors, but have largely come about as a result of the rising prices of gas and electricity across Europe, as well as rising fuel prices and the increased cost of clothing.
CBS also notes the effect of the coronavirus pandemic on the cost of living, highlighting the fact that government restrictions resulted in a change in public spending habits which will continue to have knock-on effects for inflation levels in 2021.