Belgium's inflation hits highest level in nearly 50 years

ANKARA

Belgium’s annual inflation rate spiked to 11.27% in September, the highest level in nearly five decades, according to official data released on Thursday.

The figure, which stood at 9.94% in the previous month, was the highest for Belgium since August 1975, according to the Belgian statistical office Statbel.

The main reason, as in recent months, were high energy prices.

“Energy currently has an inflation rate of 60.54% and accounts for 5.39 percentage points of the total inflation,” read a statement.

Food prices have also “sharply increased” in recent months, Statbel said.

“Inflation for food products (including alcoholic beverages) stands at 10.40% this month, The contribution of food products to inflation currently amounts to 2.03 percentage points,” the statement added.

On a monthly basis, consumer prices in Belgium were up 0.96%, the biggest jump since January.