Inflation 3.1 Percent Up in July

Based on the new numbers provided by Statistics Netherlands, inflation increased to 3.1 percent last month. 

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This is by far the highest rate recorded since September 2008. Consumer prices climbed to 2.9 percent a couple of months ago compared to the same period in 2012.

One of the major reasons for this high inflation rate is the rise in rent. Costs of phone rates, internet services and clothing also resulted to high inflation. Prices of natural gas and new car, however, caused inflation to fall.

The rise in rent averaged 4.5 percent last month, which is the highest increase in the same period in 1995.

Dutch inflation declined by 0.1 percentage points last month to 3.1 percent, according to the harmonised consumer price index (HICP).

Source: 4-traders