Dutch inflation hits new record, among Europe's highest

THE HAGUE: Dutch inflation hit a new record of 14.5 percent in September due to soaring energy prices following Russia’s invasion of Ukraine, official figures showed on Thursday.

The Netherlands, the EU’s 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 percent increase year-on-year in September comes after inflation hit what was then a record 12 percent 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 percent more expensive in September than in the same month last year.”

The Dutch government announced an “unprecedented” 17.2-billion-euro 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.