The consumer price inflation in the Netherlands declined to an 18-month low in March in light of the decline in energy prices, the Statistics Netherlands (CBS) reported.

The consumer price index increased in March 2023 by 4.4 percent annually, compared to 8 percent year-on-year in February.

The inflation rate fell to its lowest level since October 2021, when prices rose by 3.4 percent.

The decline in the inflation rate during March was driven by the decrease in energy prices, including motor fuels, by 28.2 percent year-on-year. At the same time, prices for food, beverages, and tobacco increased by 18 percent.

Furthermore, data showed a growth decline in retail sales in February to 8.5 percent, compared to 12.1 percent in January. Retail sales in the Netherlands have been rising since March 2021.

Source: Qatar News Agency