We forecast the Dutch economy will grow by 1.3% next year, following a 0.9% expansion this year. The impact of tight monetary policy is set to unwind, while strong wage growth alongside lower inflation will help drive the recovery in consumption. We expect inflation will average 2.6% in 2025, down from 3.3% in 2024, thanks to lower international energy prices and easing underlying inflationary pressures.
Netherlands: Inflation has to go up before it goes down