Belgium inflation at 47-year high
The Belgian Statistical Institute (Statbel) has released the country’s inflation data for October.
According to the data, inflation in Belgium, which was 11.27 percent in September, rose to 12.27 percent in October. Thus, inflation in the country registered the highest level measured since June 1975.
The last time inflation in Belgium was 12.5 percent 47 years ago.
Core inflation rose to 6.5 percent in October.
ENERGY INFLATION 63.03 PERCENT
The most important price increases in October were those of natural gas, electricity, heating oil, oils, wood, butter, diesel and flour.
The main reason for the increase in inflation in the country was energy. The price increase of energy products reached 63.03 percent. The contribution of energy products to inflation in October was 5.95 percent.
Compared with 1 year ago, in October, the price of natural gas increased by 130.6 percent, the price of electricity increased by 84.7 percent, and the price of heating oil increased by 57.7 percent in Belgium. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
