Inflation in the eurozone increased further last month. It turns out Friday from figures from the European statistical office Eurostat. Goods and services were on average 5 percent more expensive in December 2021 than in the same month a year earlier. Inflation is therefore higher than in November, which was 4.9 percent on an annual basis.
Also read: Record inflation is mainly due to energy prices
The December inflation rate is a record since 2002, when the euro was introduced. The high inflation in the eurozone is partly caused by the high energy rates; for electricity, the average price increased by 26 percent year-on-year. Increased prices for food, tobacco and alcohol are also driving inflation.
According to the Eurostat calculation method, Dutch inflation in December is increased to 6.4 percent on an annual basis, while the percentage was 5.9 percent a month earlier. The high Dutch inflation rate is largely attributable to the rise in energy prices.
Energy was no less than 53 percent more expensive in the Netherlands last month compared to a year earlier. So-called ‘core inflation’, which excludes the often volatile energy and food prices, actually fell from 2.6 percent in November to 2.2 percent in December.
In collaboration with Mark Beunderman.