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Belgium Inflation December 2023

Belgium: 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.

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