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Belgium Inflation November 2022

Belgium: Harmonized inflation declines to lowest level since July in November

Harmonized inflation dropped to 10.5% in November from Octobers 13.1%. November’s figure represented the weakest inflation rate since July. The result was driven by moderating price pressures for transportation and housing and utilities. That said, core inflation continued to rise, increasing from 6.3% in October to 6.8% in November.

The trend pointed up mildly, with annual average harmonized inflation coming in at 10.0% in November (October: 9.8%). Meanwhile, consumer price inflation fell to 10.6% in November, from the previous month’s 12.3%.

Finally, harmonized consumer prices dropped 0.96% in November over the previous month, contrasting October’s 2.7% increase. November’s result marked the weakest reading since August 2020.

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