Thursday, July 31, 2008

Consumer inflation rate in Belgium at highest level in 24 years

It's not all bad news though....while the local peasants are starving, the American monthly magazine, Vanity Fair, has picked Belgium's Princess Mathilde for it's International Best-Dressed List 2008. What, they didn't have a list for dysfunctional royal families?

The consumer inflation rate has accelerated to 5.91 percent on yearly basis this month, according to statistics supplied by the Federal Economy Department. This means consumer inflation has reached its highest level since 1984.
The inflation rate on monthly basis was at 0.53 percent this month. Statistics also show that life has become almost 13 percent more expensive over the past four years.

Soaring energy prices are the main contributory factor to the high inflation rates. Apart from natural gas, a number of other things have become a lot more expensive over the past few weeks, including fruit, potatoes and fire insurance policies.

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