Today the new inflation numbers of the Dutch statistical bureau CBS arrived. According to CBS annual Dutch inflation is now at 2.9%. The main cause for this is the fact that the Dutch government decided to increase the value added tax (VAT) rate in october 2012. (credit: chart)
If you look at the longer term inflation is near the highest point in 10 years. It is even higher now then it was for a big part during the 1990’s. According to CBS Dutch inflation averaged 1,89% during 2002 and 2011. Between 1992 and 2002 inflation averaged at 2.61%. The little peak of 4,5% in 2001 was caused by an increase of the Dutch VAT rate.
Because of these VAT rate hikes inflation in The Netherlands is now double that of the European average. PDF