Netherland: According to data released on Tuesday by Statistics Netherlands (CBS), food inflation in the Netherlands has accelerated, with prices rising 18.4% year-over-year in February compared to a reading of 17.6% in January.

Clothing prices also increased significantly, from 9.4% in January to 11.8% last month. These two items in particular, say experts, played a part in last month's 8% inflation rate.

Aggie van Huisseling, an economist at ABN Amro, the third-largest Dutch bank, claimed that the nation's inflation rate was still being driven by unusually high energy prices.

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According to Van Huisseling, the rise in food costs is primarily attributable to the skyrocketing prices of fresh vegetables, as goods like tomatoes are currently primarily produced in greenhouses heated with gas.

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Fuel costs also moderated somewhat during this time, falling 9.4% in February compared to the same month last year, according to data from CBS.

Consumer goods and services in the Netherlands were 8.9% more expensive in February than they were a year earlier, up from 8.4% in January, according to the European Harmonized Consumer Price Index (HICP).

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ABN Amro economists predict that inflation will moderate this year and fall to 4%, but they issue a warning that an increase in energy costs will be passed on to the cost of other goods.