February 6, 2023

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Inflation has fallen sharply, but food and drink have become much more expensive |  Economie

Inflation has fallen sharply, but food and drink have become much more expensive | Economie

Inflation in the Netherlands according to the European measure was 11.2 percent in November. That’s still very high, but it’s much lower than it has been in recent months, the Census Bureau reports CBS Wednesday. Food, alcohol and tobacco are now much more expensive than they were a year ago.

The general inflation rate decreased by 5.6 percentage points compared to the previous month. “This is mainly due to the lower price of energy,” says Peter Hein van Meulgen, CBS chief economist.

In October, energy prices were still 100 percent higher than a year earlier, and this month they are about 40 percent higher. “This is still huge, just like the 11.2 percent inflation. But it’s different from the last few months,” said the chief economist.

Last year, energy prices began to rise sharply around this time. Van Meulijn: “This effect disappears after twelve months.” In addition, fuel has become much cheaper, which is also reflected in energy prices.

If you exclude energy, inflation is still high. “The rise in food, alcohol and tobacco prices, at 12.5 percent, is now just above the overall rate of inflation. That’s staggering.”

According to CBS’ chief economist, the science certainly can’t get out. Even though inflation is down and we get compensation for the energy bill. “But groceries don’t get a penny cheaper.” The high price of energy has a delayed effect on this.

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