You are currently viewing Inflation soared to 12.27% in October, a record since 1975

Inflation soared to 12.27% in October, a record since 1975

  • Post category:Economy News
  • Reading time:2 mins read

It was still below 10% last August. Inflation based on the health index increased from 11.25% to 12.27%, while the smoothed health index stood at 122.22 points in October (120.53 in September). The central index for the civil service and social allowances, set at 120.73 points, has therefore once again been exceeded.

The consumer price index also rose by 2.97 points, or 2.37%.

As in recent months, high inflation is largely explained by high energy prices. Energy inflation has now reached 63.03% and contributes 5.95 percentage points to total inflation, details Statbel.

Food inflation also rose sharply, by 12.30% in October. The contribution of food products to inflation is 2.37 percentage points.

Core inflation, which does not take into account the evolution of the prices of energy products and unprocessed food products, stood at 6.50% in October, against 6.21% in September.

The main price increases in October concern natural gas, electricity, fuel, meat, heating oil, vegetables, clothing, dairy products, bread and cereals, fruit, private rents and restaurants and cafes. Alcoholic beverages, on the other hand, exerted a downward effect on the index.