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Belgium Inflation March 2024

Belgium: Harmonized inflation comes in at highest level since March 2023 in March

Harmonized inflation came in at 3.8% in March, which was up from February’s 3.6%. March’s reading represented the highest inflation rate since March 2023. The cooling of price pressures was largely driven by softer growth in prices for food and non-alcoholic beverages. Moreover, prices for recreation grew at a more subdued pace.

Annual average harmonized inflation edged down to 1.6% in March (February: 1.7%). Meanwhile, consumer price inflation was steady, coming in at February’s 3.2% in March.

Lastly, harmonized consumer prices increased 0.39% in March over the previous month, a smaller increase than February’s 2.37% rise.

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