Inflation nears 10 percent in Belgium

Inflation in Belgium rose to 9.65 percent in June, the Belgian statistical office Statbel reported on Wednesday. The inflation rate is once again at the highest level in some forty years.

The inflation rate in Belgium was 8.97 percent in May. As in previous months, high energy prices are the main drivers of inflation. On average, energy products were more than 50% more expensive in June than one year ago. Natural gas prices even more than doubled. 

Statbel notes that food inflation has also risen sharply in recent months. The inflation rate for food, including alcoholic beverages, was 8.44 percent in June. In November last year, it stood at less than half a percent.

Inflation in Belgium has been rising continuously since the beginning of 2021. It stood at 0.26 percent in January 2021. The European Central Bank (ECB) aims for an inflation rate of around 2 percent.




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