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Belgium Inflation September 2023

Belgium: Harmonized inflation falls to over two-year low in September

Harmonized inflation came in at 0.7% in September, down from August’s 2.4%. September’s result represented the weakest inflation rate since February 2021. The result was primarily driven by a softer rise in prices for food and non-alcoholic beverages and recreation. In addition, prices for housing and utilities dropped at a faster pace.

Accordingly, the trend pointed down, with annual average harmonized inflation coming in at 5.2% in September (August: 6.2%). Meanwhile, consumer price inflation fell to 2.4% in September, from August’s 4.1%.

Lastly, harmonized consumer prices fell 0.37% in September over the previous month, swinging from August’s 2.53% increase.

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