Saturday, March 1, 2008

Belgium Inflation Hits High

BRUSSELS, Belgium — Belgium saw inflation soar to a 17-year high of 3.6 percent in February, the country's statistical office said in a first estimate Thursday.

Prices have not risen so fast since July 1991.

The Belgian government promised last week that it would try to tackle surging prices for food and energy by talking to supermarkets and food producers as well as giving energy regulators more power to watch prices.

Gas pump prices in the country on Feb. 22 set a new record of euro1.50 (US$2.23) for a liter of petrol.

Euro inflation hit 3.2 percent last month on more expensive energy and food prices, the highest level since the currency started being used in 2002.

Greater demand from developing countries, such as China, for energy, grain and dairy products are partly to blame for the price surges.

Inflation statistics for the 15 euro currency nations will be published Friday.

Source: AP

No comments: