Belgian Inflation Hits Highest Level Since May as Energy Prices Soar

Belgium's inflation rate has reached its highest level since May 2023, reaching an annual rate of 4.69% in September.

This increase is largely due to rising energy prices, which accelerated to 24.37% from 16.47% in August and contributed 2.15 percentage points to the overall annual rate.

Motor fuel prices jumped 33.9% year-on-year, while diesel prices surged 44.1%, natural gas rose 34.9%, and gasoline increased by 29.4%.

The main drivers of September's price increase were energy-related items, including natural gas, motor fuels, electricity, package holidays, and domestic heating oil.