In November inflation in the Netherlands rose to 5.2 percent, the highest level in 40 years. On Budget Day, the cabinet announced a small improvement in purchasing power for everyone. But this is based on an inflation rate of less than 2 percent. It is not yet clear how high inflation will be, but it is certain that it will be more than 2 percent. Workers can still see whether extra wages can be obtained during collective bargaining. But retirees and people on benefits are the losers anyway. Most pensions remain frozen, so the whole price increase is at the expense of their purchasing power.
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