Yearly currency depreciation was slightly lower in October but still above expectations
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Annual inflation in the Netherlands was 16.8% in October, slightly down from 17.1% in September but still well above expectations, Statistics Netherlands (CBS) said on Monday.
According to the report, inflation remains very high, driven by soaring energy and food costs. The CBS figure, based on the harmonized European measurement method, includes housing costs such as rent, and calculates energy prices based on new contracts.
Earlier, some media wrote that about 20 bakeries in the Netherlands were forced to close due to skyrocketing inflation amid the energy crunch. Bakery costs in the country have surged by 80%.
In October, the inflation rate in the Eurozone reached 10.7%, according to preliminary data released on Monday.
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