Inflation in Belgium
Harmonized consumer price inflation averaged 2.4% in the ten years to 2022, above the Euro Area average of 1.8%. The 2022 average figure was 10.3%. For more inflation information, visit our dedicated page.
Belgium Inflation Chart
Belgium Inflation Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Inflation (HICP, ann. var. %, aop) | 2.3 | 1.2 | 0.4 | 3.2 | 10.3 |
Inflation (HICP, ann. var. %, eop) | 2.2 | 0.9 | 0.4 | 6.6 | 10.2 |
Harmonized inflation picks up in December
Harmonized inflation came in at 0.5% year-on-year in December, swinging from November’s 0.8% drop in prices, but remaining below the Euro area average of 2.9%. Looking at the details of the release, housing and utilities prices fell at a more moderate pace in December compared to the previous month, while price pressures for transportation picked up pace. The trend pointed down, with annual average harmonized inflation coming in at 2.3% in December (November: 3.1%). Meanwhile, consumer price inflation rose to 1.4% in December, from the previous month's 0.8%. Lastly, harmonized consumer prices rose 1.11% in December over the previous month, contrasting November's 0.08% fall. December's uptick was the highest reading since August.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Belgian inflation projections for the next ten years from a panel of 17 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Belgian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Belgian inflation projections.
Want to get access to the full dataset of Belgian inflation forecasts? Send an email to info@focus-economics.com.
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