De Nederlandsche Bank, in a presentation by Tjerk Kroes to the Social and Economic Council, said the latest energy price shock is occurring in a different economic setting from 2022, with signs of cooling at the start of 2026 rather than a tight labor market and strong upward price pressure, while warning that higher energy prices are still pushing up inflation and that the scale and duration of pass-through will depend largely on how long energy prices remain elevated.
De Nederlandsche Bank2026-06-18
De Nederlandsche Bank tells the Social and Economic Council the current energy shock is feeding inflation in a cooler economy than in 2022
De Nederlandsche Bank told the Social and Economic Council that the current energy shock is unfolding in a cooler economy than in 2022, but is still raising inflation, with the extent and duration of the effect depending on how long energy prices stay high.