While the inflation curve had been following an upward trend for several months in a row, good news was finally revealed to consumers during last August and September. Indeed, inflation in Belgium seemed to have found a certain stability, standing at a rate of 4,3%.
According to Statbel, the Belgian statistical office, the index would have started to rise again during the month of October. Although the increase was very slight, estimated at 0,2%the prices of certain products and services still had a negative impact.
Inflation is rising again in Belgium, although it is slight
The Belgian statistical office, Statbel, has just published inflation figures based on the European Price Index to harmonized consumption. In Belgium, inflation was estimated at 4.5% in Octobera small increase compared to the months of August and September, when the rate stood at 4.3%. Although this increase is slight, it was driven by the increase in prices of certain products during this same period.
Thus, among the twelve groups of products and services analyzed by Statbel, it is the category of alcoholic beverages and tobacco which recorded the highest inflation during the month of October, with rate of 19.6%. In contrast, the group of transports displays the lowest inflation, with a rate of -1,1%. Furthermore, it is the latter which has had the greatest negative impact, with a reduction in 0.7 percentage pointswhile the housing, water and energy group had the largest positive impact on inflation, at 1.5 percentage points.
Food products also experienced fluctuations
Compared to last year, theNatural gas and electricity cost 125.4% and 13.7% more in October 2024while the price of heating oil has decreased by 22,2% compared to last year. Inflation for food and non-alcoholic beverages this month stands at 2,4%against 1,6% the previous month, said the Belgian statistics office.
Oil inflation this month amounts to 11%, compared to 6.7% in September. For dairy products, inflation is -0.1%, compared to -0.7% last month. Fish recorded inflation of 1.9% in October, compared to 2.1% in September. For bread and cereals, the index increases to 1,2% this month, against 0,0% in September. Meat inflation is 2,0% this month, against 1,7% the previous month.
