Inflation reaches highest level in 16 years

31st January 2008, Comments 0 comments

The prices of consumption goods this January are 3.46% higher than they were in January 2007

Inflation in Belgium has reached the highest level in 16 years. The prices of consumption goods this January are 3.46% higher than they were in January 2007. This is a monthly increase of 0.41%.

According to statistics by the Federal Department of Economy, inflation has not been this high since August 1991. Inflation was then at 3.54%. Even then this was an improvement because at the beginning of 1991 inflation was at 3.98.

Inflation in Belgium has risen rapidly over the last months- to over double what it was last September (1.51%).

The index is now at 108.84 points. Especially natural gas (+0.110) and electricity (+0.060) have gone up in price recently. Bread and grains (+0.060) and milk, cheese and eggs (+0.050) have also risen considerably in price.

Noteworthy is the price increase in water supplies (+0.045) and fuel (+0.040).

Some products became cheaper in January such as foreign travel (-0.070), and road tax (-0.045).

Despite the rise in inflation, the consumer index in January has not been surpassed. The last time the consumer index was surpassed was last month.

flandersnews.be

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