Germans spent 9.3% more on groceries and other daily expenses in February than they did a year earlier. BNR in-house economist Han de Jong thinks we should fear the same for the Netherlands, whose figures will be announced on Thursday.
While economists actually expected a further decline, German inflation increased slightly in February. “An uncomfortable image”, as the economist De Jong calls it. ‘You can see that inflation for energy has come out a little bit lower. But it is higher for other main groups. Look at the food: Prices are now almost 22% higher than a year earlier. Inflation is still rising even in the services sector.’
It had previously been announced that inflation had also risen in France and Spain. “Inflation was a bit lower in Belgium, but core inflation – which excludes energy and fresh food – was also higher there.”
Dutch figures
Dutch data will be announced on Thursday. De Jong fears that they are going in the same direction as the German one. “You can always hope things are better with us. But if you look at the figures from all those other countries, I’d bet my money that inflation in our country picked up again in February.’
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
