Inflation in Belgium rises to 4.69% / Energy and fuels drive increase

Inflation in Belgium rose to 4.69% in September, the highest level recorded since May 2023, amid sharp increases in fuel, natural gas and electricity prices. In August, the inflation rate was still below the 4% threshold.

The Federal Planning Bureau estimates that price pressures will continue and expects inflation to exceed 5% by the end of the year. Core inflation, which excludes the volatile components of energy and food, remained almost unchanged at 3% in September, compared with 2.99% in August.

The largest year-on-year price increases in September were recorded for external storage devices, such as hard drives and USB sticks, at 53%. Diesel prices rose by 44.1%, natural gas by 34.9%, petrol by 29.4%, and package holidays by 22.8%. The price of heating oil increased by 20%.

By contrast, fresh berries became 11.2% cheaper, power banks by 9.5%, and plant-based milk by 7.6%. Price declines were also reported for audio-video equipment, fruit, cereals, stationery and certain vegetables.