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The first increase in annual inflation since its June 2022 peak was driven in part by higher mortgage interest costs and higher rent prices.

Inflation is inescapable, but it shouldn’t affect everything at the King’s Day free markets today, according to Statistics Netherlands economist Pieter Hein van Mulligen. Beer and food will likely be more expensive, but the traditional free market fare should cost about the same as last year, he said to NU.nl. “Whatever it costs, you still can’t get rid of that pile of old CDs on the paving stones.”

Sales of new construction homes fell by half in the last quarter of 2022 compared to a year earlier, Statistics Netherlands (CBS) said this week. This is the largest decrease since the statistics office started tracking the figure in 2015. The number of transactions for new-build homes fell at an increasingly rapid rate over the course of 2022. In October, November and December, for example, Statistics Netherlands counted just over 5,300 new-build homes sold. That is almost 51 percent lower than in the fourth quarter of 2021.

CIBC team suspects 'narrative shift is coming' after an expected 75-basis-point increase on Sept. 7

Expect more rate hikes, as fuel prices are the exception to a still-rising cost of living