FX.co ★ Dutch Inflation Highest Since April 1976

Dutch consumer price inflation increased sharply to the highest level since April 1976, driven by soaring energy prices, data from the Central Bureau of Statistics showed on Thursday.

The consumer price index rose 9.7 percent year-on-year in March, following a 6.2 percent increase in February.

The latest inflation was mainly due to higher prices for energy, which rose by 157.0 percent from a year ago.

Price development of motor fuels and food also led to higher rate of inflation in March, the agency said.

Inflation based on the Harmonized Index of Consumer Prices, or HICP, surged to 11.7 percent in March from 7.3 percent in the previous month.