Belgium: Inflation inches down in November
November 29, 2010
In November, consumer prices added 0.1% over the previous month, which followed on a price increase of the same magnitude in October, but undershot market expectations of a 0.2% rise. The November reading mainly reflected the start of the winter season, with higher prices for fresh food, as well as for fuel and heating oil. Annual inflation inched down from 3.0% in October to 2.9% in November, reversing the upward trend that began in December 2009. Meanwhile, annual average harmonised inflation jumped from 1.5% in September to 1.8% in October (the last month for which data are available). The October figure marked the highest level since July 2009. The Central Bank expects harmonised inflation to average to 2.0% this year and 1.9% in 2011.
Author: Ricardo Aceves, Senior Economist