Germans spent 9.3 percent more on their groceries and other daily expenses in February than one year previously. BNR’s house economist Han de Jong thinks that we should fear the same for the Netherlands, whose figures will be announced on Thursday.
While economists had actually expected a further decline, German inflation rose somewhat in February. ‘An uncomfortable picture,’ is what house economist De Jong calls it. ‘You can see that inflation for energy has come out a bit lower. But it is higher for other main groups. Look at food: prices there are now almost 22 percent higher than one year previously. Inflation is also still rising in the services sector.’
It was previously announced that inflation had also increased in France and Spain. ‘Inflation was somewhat lower in Belgium, but core inflation – that is excluding energy and fresh food – was also higher there.’
The Dutch figures will be announced on Thursday. De Jong fears that they will go in the same direction as the German one. “You can always hope that things are better with us. But if you look at the figures from all those other countries, I would bet my money on the fact that inflation in our country rose again in February.’