Inflation fell sharply in March, mainly because energy and fuel prices were significantly lower than a year ago. Many other products are much more expensive.
According to the preliminary calculations of the Netherlands Statistical Institute, inflation was 4.4 percent in March. A month ago inflation was still 8 percent. Lowest inflation rate since October 2021.
The decline is not unexpected. The inflation rate compares today’s prices to those of a year ago, and in March 2022, prices rose sharply. Inflation was measured at 9.7 percent this month. Added to this is the inflation measured this month.
more expensive food
While energy and fuel prices were rising a year ago, price increases are seen in many products and services now. Food is 15 percent more expensive than a year ago and services are 5.6 percent more expensive.
Economists do not expect food price increases to slow down until later this year. Although commodity prices are falling, it will take some time to reflect on consumer prices. Higher wages will also mean that prices will continue to rise for the time being.
Thus, energy has become much cheaper. Earlier this month, the price of gas in the commercial market fell below 40 euros per megawatt hour. A year ago, the fuel price exceeded the 200 euro limit.
Source: NOS
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
