Netherlands Inflation Hits 3.2% as Fuel Prices Surge

Fuel prices in the Netherlands have surged by over 22% in the past year, contributing to a rise in inflation of 3.2% in July, according to final figures from Statistics Netherlands.

This marks a slight increase from the preliminary estimate of 3.1% and follows a sharp drop in inflation to 2.9% in June.

The jump in fuel prices is attributed to higher oil and gas costs following the conflict in the Middle East, which began in late February.

Housing costs provided some relief, rising by 4.3% in July compared to a year earlier, down from a 4.7% increase in June.

The Dutch inflation rate of 3.2% is slightly above the 2.9% average recorded across the eurozone, due to stronger price increases for services and industrial goods in the Netherlands.