RT.com
17 Mar 2023, 11:43 GMT+10
High energy prices are passing additional costs on to other products, economists say
Food inflation has accelerated in the Netherlands with prices surging 18.4% year-on-year in February from a 17.6% January reading, data shared on Tuesday by Statistics Netherlands (CBS) shows.
Clothing was also considerably more expensive, surging 11.8% last month from 9.4% in January. Experts point out that these two items in particular contributed to inflation last month, which amounted to 8%.
An economist at the third-largest Dutch bank ABN Amro, Aggie van Huisseling, said that unusually high energy prices continued to fuel inflation in the country. The increase in food prices stems mainly from the soaring costs of fresh vegetables, as products like tomatoes currently come mainly from greenhouses that are heated with gas, Van Huisseling explained.
At the same time, fuel prices eased somewhat, declining 9.4% in February compared to the same period last year, figures from the CBS showed.
According to the European harmonized consumer price index (HICP), consumer goods and services in the Netherlands were 8.9% more expensive in February than the previous year and up from 8.4% in January.
Economists from ABN Amro expect inflation to cool this year and decline to 4%, but warn that a rise in energy prices will be passed on to the cost of other products.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of The UK News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to The UK News.
More InformationMENLO PARK, California: As artificial intelligence demands explode, Big Tech is turning to an old source for new power: nuclear energy....
NEW YORK, New York - U.S. stocks rose appreciably Friday following the release of a strong jobs report which sent the U.S. dollar higher,...
WASHINGTON, D.C. America's job market is starting to lose momentum. In April, job openings rose — but so did layoffs, marking their...
DUBLIN, Ireland: Digital Business Ireland (DBI) has asked the Government to do more to help Ireland's digital and tech sector. This...
TOKYO, Japan: Toyota has announced that it will take one of its key group suppliers, Toyota Industries, private in a deal worth UD$26...
NEW YORK, New York - U.S. stocks fell Thursday after the feud between U.S. President Donald Trump and his biggest backer Elon Musk...
ZURICH, 7th June, 2025 (WAM) - The FIFA Club World Cup will see a range of innovations introduced that will make the tournament even...
New Delhi [India], June 6 (ANI): Former dynamic star AB de Villiers is 'confident' about South Africa staging an 'upset' against the...
New Delhi [India], June 6 (ANI): 'Someone please give Ed Sheeran an Aadhaar card,' quipped Indian fans after seeing the British singer's...
(250606) -- DOHA, June 6, 2025 (Xinhua) -- Ismail Mohamad (R) of Qatar vies for the ball with Ali Nemati of Iran during the 2026 FIFA...
(250606) -- AMMAN, June 6, 2025 (Xinhua) -- A drone show is staged to celebrate Jordan's qualification for the 2026 FIFA World Cup,...
ABU DHABI, 5th June, 2025 (WAM) - Uzbekistan reached their first FIFA World Cup by drawing with the United Arab Emirates. The UAE...