Over the past three years, food prices have risen more sharply in Belgium than in most neighboring countries, according to a new inflation study. However, there are big differences between the products.
Essential products
A new report by Eric Dor, director of economic studies at the IÉSEG School of Management, compares the rise in food prices between Belgium and other euro zone countries from October 2021 to October 2024. The average price of foodstuffs increased by 27% in Belgium during this period, while it increased less in Luxembourg (21.4%), France (22.9%), Italy (24.3%), in the Netherlands (24.9%) and four other eurozone countries.
However, there are big differences between the products. The largest price increases were recorded for olive oil (100.6%), potatoes (48.3%) and eggs (42.1%). Dried fruits and nuts (7.2%), spirits and liqueurs (7.9%) and heavy beers (10.9%) are the products whose prices have increased the least.
Remarkably, the increase in prices of many essential products was stronger in Belgium than in neighboring countries: bread (+27.3%), poultry (+33.5%), cheeses (+33.4 %), whole milk (+30.9%), olive oil and eggs. On the other hand, sugar (+35.4%), beef (+19.16%) and sauces and condiments (+24%) grew less strongly in Belgium than in neighboring countries.
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Over the past three years, food prices have risen more sharply in Belgium than in most neighboring countries, according to a new inflation study. However, there are big differences between the products.
