Inflation in the Netherlands reaches 11.6% in 2022

The European Commission said on the 11th that most EU countries will fall into recession by the end of the year, and the inflation rate in the Netherlands in 2022 is much higher than that of the rest of Europe. In 2022, inflation will average 8.5% in euro zone countries and 9.3% in the EU as a whole. In the Netherlands, however, inflation is at 11.6%, and with other factors, GDP growth is expected to be just 0.6% in 2023.

The EU’s economic outlook has been shrouded in “unusually high uncertainty” due to the Russian-Ukrainian conflict. The energy crisis is eroding households’ purchasing power and putting pressure on production, and business confidence in the economy is plummeting.