Inflation in the Netherlands shot to a record high in September mainly due to higher energy prices, the Dutch statistics agency, CBS, said today.

The consumer price index rose to 14.5% in September year-on-year, from 12% in August.

Energy was 200% more expensive in September than in the same month last year, the CBS said, adding that in August the increase was 151%.

The agency noted that the inflation rate excluding energy and motor fuels picked up from 6% in August to 6.5% in September.

The prices of education also contributed to higher inflation as a government discount on tuition and course fees introduced during the Covid-19 crisis will no longer be available in the current academic year, the CBS said.

Clothing prices were 8% higher in September than one year earlier, compared to a 3.3% rise in August, the agency added.

The consumer price index, harmonised to be comparable with inflation data from other European Union countries (HICP), rose to 17.1% in September after an August jump to 13.7%, CBS said last week.

Meanwhile, Dutch house prices in the third quarter fell 5.8% from the previous three months, the country's main real estate industry group said.

The Union of Estate Agents (NVM) attributed the decline to rising mortgage rates. Average Dutch interest rates on a 20-year mortgage without state-backed guarantees have risen to 4.3% from about 1.4% late last year.

Dutch home prices doubled in the 2013-2021 period, driven by continuing shortages and low interest rates, according to Statistics Netherlands, with increases peaking at nearly 20% year on year last January.

Housing supply remains tight and sale prices of existing homes in the third quarter averaged €425,000, 2% higher than a year earlier despite the third-quarter decline, the NVM said.