Inflation in Netherlands was 10% in 2022

The cost of living in the Netherlands was, on average, 10 percent higher in 2022 than a year earlier. In 2021, inflation was still 2.7 percent. The price increases last year were the highest since 1975, Statistics Netherlands (CBS) reported. In that year, consumer products were, on average, 10.2 percent more expensive than the year before.

The price development of energy - electricity, gas, and district heating - in particular, contributed to the high inflation in 2022. On average, energy was 114 percent more expensive than in 2021. Energy accounted for 4.6 percent of the total inflation in 2022.

Food and motor fuels were also more expensive. Food prices rose 10.8 percent compared to the previous 12 months. In 2021, food prices fell by 0.2 percent. Meat, dairy products, bread and grains, and vegetables mainly drove the rise in food prices.

Motor fuels were 18.1 percent more expensive than the year before. In 2021, the price development was 16.8 percent. A liter of petrol cost an average of 2.07 euros in 2022, compared to 1.82 euros in 2021. The price of a liter of diesel was 1.96 euros, compared to 1.46 euros a year earlier.

Last week, Statistics Netherlands reported that collective bargaining wages increased by 3.2 percent in 2022. According to the provisional figures, collectively agreed wages rose 6.8 percent less than consumer prices.

The statistics office also announced the inflation figure for December on Friday. It showed that inflation fell to 9.6 percent last month. In November, consumer prices were still 9.9 percent higher than 12 months earlier. At its peak in September, inflation was 14.5 percent.