Inflation rose in the eurozone for the third month in a row. It amounts to 2.4%, according to a Eurostat estimate. Inflation in Belgium is the second highest in Europe, at 4.4%.
According to an estimate from the European statistics office Eurostat, life was on average 2.4% more expensive in the last month of last year than a year before. This is the third consecutive month of increase. In November, the inflation rate was 2.2%, compared to 1.7% two months earlier. In Belgium, the inflation rate rose to 4.4%, according to Eurostat estimates. A year earlier, it was 0.5%, even if the basis of comparison was then 2022, a year when inflation was very high. Belgian inflation is therefore today the highest in Europe, after that of Croatia. The Belgian statistical office Statbel, which uses a different calculation method, announced inflation of 3.16%. The current acceleration in life expectancy is mainly explained by the rise in energy prices. Core inflation, which excludes fluctuations in the prices of energy, food, alcohol and tobacco, has been stable since September (2.7%). The European Central Bank (ECB) is targeting an inflation rate of 2%, but is not worried at the moment: it is convinced that this increase is only temporary. The ECB made four interest rate cuts last year. Further interest rate cuts are expected this year. At the end of the month, the Central Bank will meet again in Frankfurt to discuss interest rates. According to Testachats, inflation of food products fell in December. Last month, food purchases cost 2.81% more than a year earlier, compared to 3.23% in November. For three years, Testachats has been monitoring the price evolution of more than 3,000 products in seven supermarket chains in our country. Compared to January 2022, groceries are on average 27% more expensive today.
Belgium
