Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Image
Cracked flags of Ukraine and Russia
Cracked flags of Ukraine and Russia - Credit: Barks / DepositPhotos - License: DepositPhotos
Politics
Business
purchasing power
CPB
Pieter Hasekamp
Ukraine
Russia
war
invasion
energy bill
food prices
inflation
Wednesday, March 2, 2022 - 08:02
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

Dutch purchasing power will take a blow from Russian invasion: CPB director

The war in Ukraine will have consequences for the purchasing power of many Netherlands residents, director of Central Planning Bureau (CPB), Pieter Haskekamp, warned on NPO Radio 1 program Geld of je Leven. Hasekamp said that people with a low income could be particularly affected and that the Cabinet must, therefore, "do something extra."

According to the CPB director, low-income households are less able to absorb the consequences of, for example, a higher energy bill. As far as he is concerned, the government should, therefore, reach into its own wallet for this group. "I think there is reason to do some extras," he said in the radio program.

Hasekamp fears that not only energy prices but also those of food products will rise as a result of the Russian attack on Ukraine. "In the long run, inflation can broaden to, for example, a wage-price spiral," he explained. "Then you end up in a scenario, such as in the 1970s, in which major interventions are required to bring inflation down. That has major economic consequences."

The average Dutch household's energy bill was already expected to increase by some 86 percent this year due to higher prices for gas and oil. After the Russian invasion of Ukraine last week, the gas price jumped 30 percent. Russia and Ukraine aren't only significant exporters of fossil fuels but also of edible oils like palm oil and grains. 

Reporting by ANP.

Follow us:

Latest stories

  • World first: Delft researchers succeed in teleporting data
  • Dutchman stabbed to death after bar fight in Spain
  • Ten percent of NL residents avoid the dentist
  • More families need help from food, clothing banks
  • Schiphol CEO criticized for being absent during chaotic times at the airport
  • Students worried about effect of interest rate hikes on study loans

Top stories

  • More female managers, but wage gap remains
  • Only male aldlermen in 46 Dutch municipalities
  • More reformed schools denouncing homosexuality despite uproar
  • Defense refused to help manage crowds at Schiphol, CEO says
  • KLM stops ticket sales on Amsterdam flights; Schiphol unveils crowd management plan
  • Schiphol expects crowds due to Ascension Day long weekend

© 2012-2022, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content