Inflation rose from 3.18% in March to 3.37% in April, according to data published Monday by the Belgian statistics office Statbel. The smoothed health index reached 128.32 points, which means exceeding the pivotal index for the civil service and social benefits which was set at 128.11 points.
Inflation based on the health index thus increased from 3.09% to 3.28% in one month. The other indices, however, are expected to decline. Inflation for food products (including alcoholic beverages) thus decreased for the 13th consecutive month and stood at 0.25%, compared to 3.21% in March. Core inflation, which does not take into account changes in energy prices and unprocessed food products, also fell to 3.26% in April, compared to 3.85% last month.
The main price increases concern fuel and hospitality. While the declines are particularly felt in food products, clothing items, travel abroad and even pet products.
As expected by the Planning Bureau, the pivotal index was exceeded in April. In this case, social benefits are indexed by 2% from the following month. Two months later, it was the turn of civil servants’ salaries to experience a similar increase.
At the beginning of April, the Planning Bureau revised upwards its forecast for inflation in 2024, now forecasting an increase of 3.3% compared to 3% previously. The increase in the health index, used to calculate the indexation of salaries, social benefits and rents, would reach 3.4% in 2024 and 2.0% in 2025, compared to 4.33% in 2023 and 9, 25% in 2022. A further surpassing of the pivotal index is therefore expected in April 2025, according to these forecasts.
