Inflation in Belgium is at a 47-year peak – Last Minute Economy News

The Belgian Statistical Office (Statbel) has released the country’s inflation veri for October.

According to the veri, inflation in Belgium, which was 11.27 percent in September, rose to 12.27 percent in October. Thus, inflation in the country saw 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% in October.

THE MOST INCREASE WAS NATURAL GAS AND ELECTRICITY

The most important price increases in October were natural gas, electricity, fuel oil, oils, wood, butter, diesel and flour.

The main reason for the rise in inflation in the country was energy. The increase in the prices of energy products reached 63.03%. The contribution of energy products to October inflation 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 by 57.7 percent in Belgium.