Netherlands has witnessed a significant drop in inflation from 8 per cent in February to 4.4 per cent in March 2023. This decline is attributed to the price developments of energy and motor fuels, according to Statistics Netherlands (CBS). Excluding energy and motor fuels, inflation remained stable at 8.1 per cent, matching the rate in February.In March, energy prices were 36.5 per cent cheaper than in the same month last year, while motor fuels were 20.8 per cent cheaper, CBS said in a press release.
According to the European Harmonised Index of Consumer Prices (HICP), consumer goods and services in the Netherlands were 4.5 per cent more expensive in March than in the same month last year, down from 8.9 per cent in February. Inflation in the euro area fell from 8.5 per cent in February to 6.9 per cent in March.
Inflation in the Netherlands dropped significantly from 8 per cent in February to 4.4 per cent in March 2023, mainly due to declining energy and motor fuel prices, as reported by CBS. Excluding these factors, inflation remained stable at 8.1 per cent. The European HICP showed that consumer goods and services were 4.5 per cent more expensive in March.
Fibre2Fashion News Desk (KD)
