Inflation in Belgium continues to soar

Inflation continued to soar in June, standing at 9.65%, against 8.97% in May, RTL reports. This is the highest level since October 1982, when it reached 9.84%, according to Statbel, the Belgian statistics office, which released the figures on Wednesday.

Again, it is mostly high energy prices that are driving inflation up. Energy products were on average more than half as expensive in June as they were a year ago. With natural gas, the cost has more than doubled.

However, Statbel notes, food inflation has also risen sharply in recent months. Food inflation, including alcoholic beverages, stood at 8.44% in June.

Inflation in Belgium has been rising continuously since the beginning of 2021. In November last year, it was less than half a percent. In January 2021, it was 0.26%. The European Central Bank (ECB) is targeting an inflation rate of around 2%.