Belgium’s annual inflation rose to 4.69% in September, its highest level since May 2023, as energy prices continued to climb, official data showed Tuesday.
The rate increased from 3.97% in August, according to Belgian statistics agency Statbel. Consumer prices rose 0.39% on a monthly basis.
Energy inflation accelerated to 24.37% from 16.47% in August and contributed 2.15 percentage points to the overall annual rate. Motor fuel prices were 33.9% higher than a year earlier.
Diesel prices jumped 44.1% year-on-year, while natural gas rose 34.9% and gasoline increased 29.4%. Package holidays cost 22.8% more than in September last year.
On a monthly basis, natural gas prices rose 6.9%, motor fuels gained 6.5% and electricity increased 4.2%. Statbel said these items, along with package holidays and domestic heating oil, were the main drivers of September’s price increase.
Core inflation, which excludes energy and unprocessed food, edged up to 3% from 2.99% in August. Services inflation rose to 5.25%, while food prices, including alcoholic beverages, fell 0.28% from a year earlier.
Statbel’s preliminary estimate for inflation under the EU’s harmonized measure was 4.6% in September.
The Federal Planning Bureau forecast earlier this month that Belgium’s annual inflation rate would reach 5.12% in December.
Belgium’s inflation hits highest level since May 2023 as energy prices surge
