Amsterdam, August 11 (QNA) - Consumer price inflation in the Netherlands accelerated to 3.2 percent year-on-year in July, up from 2.9 percent in June and above the initial estimate.
According to data from Statistics Netherlands, the largest contribution to the increase came from the transport sector, where inflation climbed to 8.6 percent in July, compared with 6.9 percent a month earlier. The rise was mainly driven by a sharp increase in fuel prices, which surged 22 percent year-on-year, up from 17.3 percent in June.
Inflation in housing and utilities also edged higher, rising to 3.8 percent from 3.6 percent. The increase was primarily attributed to a rebound in energy costs, which rose 1.1 percent in July, following a 1.8 percent decline in June.
On a monthly basis, consumer prices increased by 1.6 percent in July, marking the largest monthly rise since September 2022. This followed a 0.6 percent decline in June.
Meanwhile, the Netherlands' annual inflation rate based on the harmonized index of consumer prices rose to 3.0 percent in July, compared with 2.5 percent in June. (QNA)