Inflation in the euro area remains far too high so the risk of the European Central Bank not raising interest rates high enough is still a bigger than that of lifting them too much, Austrian central bank chief Robert Holzmann said on Monday.
According to CBS, last year the Netherlands recorded an overall inflation rate of 10 percent - the highest the country has seen in almost five decades.
Preliminary figures reveal that the Dutch inflation rate rose from 9,9 percent in June to 11,6 percent in July, largely due to rising energy and food prices.
Inflation in the Netherlands was 8,6 percent in June, with CBS reporting that Dutch food and drink prices have risen by a staggering 11,2 percent since last.