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Belgium Inflation November 2023

Belgium: Consumer prices fall at more moderate rate in November

Harmonized prices declined 0.8% on an annual basis in November, a less pronounced drop compared to October’s 1.7% fall. The figure was the lowest in the Euro area, and was largely due to double-digit decreases in housing prices as well as slower price growth for food and non-alcoholic beverages, transportation and recreation.

The trend pointed down, with annual average harmonized inflation coming in at 3.1% in November (October: 4.0%). Meanwhile, consumer price inflation rose to 0.8% in November, from the previous month’s 0.4%.

Finally, harmonized consumer prices dropped 0.08% in November over the previous month, contrasting October’s 0.33% rise.

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