Dutch inflation at 11.9% y/y in March

Dutch inflation rose to 11.9% year-on-year in March, the country's statistics office said on Friday, the most since the mid-1970s, due to a spike in energy prices following Russia's invasion of Ukraine. Inflation in the energy-intensive Dutch economy had been 7.3% in February, Statistics Netherlands said, about 2% higher than Eurozone averages in that month. Eurozone figures for March are due out later Friday.

Dutch inflation rose to 11.9% year-on-year in March, the country's statistics office said on Friday, the most since the mid-1970s, due to a spike in energy prices following Russia's invasion of Ukraine. Inflation in the energy-intensive Dutch economy had been 7.3% in February, Statistics Netherlands said, about 2% higher than Eurozone averages in that month.

Eurozone figures for March are due out later Friday. A Dutch government move to lower taxes on gasoline goes into effect this week, but Prime Minister Mark Rutte has warned it will be impossible to fully compensate lost purchasing power.