Inflation in the Netherlands fell to 2.9% in June from 3.5% in May, the CBS rapid estimate shows, as oil prices retreated after the reopening of the Strait of Hormuz to more tanker traffic. The earlier price surge, driven by the war in the Middle East that largely closed the strait, had pushed Brent crude to a peak of nearly $120 per barrel; a fragile ceasefire between Iran and the US has since allowed oil to return to its pre-war level.