Belgium: Inflation climbs to 3.2 percent

In September, inflation had already exceeded 3 percent. It then rose to 3.06 percent, from 2.86 in August. Inflation is currently back to the same level as in February.

In particular, rents, fuels, bread, recreational sports, clothing, meat, catering and furniture became more expensive this month. Electricity, hotel stays and heating oil became cheaper.

Energy – with inflation of 7.26 percent in October – contributes 0.62 percentage points to total inflation. Food – with an inflation rate of 1.86 percent – accounts for 0.39 percentage points.

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Compared to October last year, natural gas (+125.4 percent) continues to lead the price increases. According to Statbel, this concerns a fading effect of government support measures due to the energy crisis (basic energy package). As a result, electricity prices are also 13.7 percent higher. Compared to September, natural gas and electricity have fallen by 0.6 and 2.2 percent respectively.

“In March, the last effect of the basic package disappeared from the index figure. The disappearance of the basic package will therefore have an increasing effect on inflation until February 2025,” the statistics agency explains.

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Other products that are significantly more expensive than a year ago include olive oil (+36.2 percent), cigarettes (+29.1 percent), fresh seafood (+27.5 percent), LPG (+27.1 percent) and light beers (+19.7 percent). Televisions (-16.5 percent), pizza and quiche (-14.6 percent), diesel (-14.1 percent), computers (-12 percent), gasoline (-11.9 percent), smartphones (-11, 9 percent) and heating oil (-10.1 percent), on the other hand, saw sharp price declines.