Belgium Inflation

Inflation accelerates in July from June

Latest reading: Harmonized consumer prices were up 3.6% on a year-on-year basis in July, following a 3.3% rise in the prior month. Relative to the previous month's figures, there were higher price pressures for food and non-alcoholic beverages (+0.2% on a year-on-year basis vs -0.1% in June), transportation (+7.2% vs +6.1% in June), housing and utilities (+7.2% vs +6.6% in June), recreation (+6.7% vs +5.4% in June) and restaurants and hotels (+4.2% vs +3.7% in June). Meanwhile, consumer prices rose 3.6% in annual terms in July, following a 3.4% rise in the previous month. Lastly, harmonized consumer prices were down 0.55% in July in month-on-month terms, following a 0.12% decline in the prior month.

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Belgian inflation projections for the next ten years from a panel of 17 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Belgian inflation.

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