Latest reading: Inflation ticked up to 2.4% in July, following June’s 2.3%. Looking at the details of the release, prices...
Inflation in Belgium
Harmonized consumer price inflation averaged 2.7% in the ten years to 2024. The 2024 average figure was 4.3%. For more inflation information, visit our dedicated page.
Belgium Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Belgium from 2014 to 2023.
Source: Macrobond.
Belgium Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 0.4 | 3.2 | 10.3 | 2.3 | 4.3 |
| Inflation (HICP, ann. var. %, eop) | 0.4 | 6.6 | 10.2 | 0.5 | 4.4 |
Harmonized inflation falls to over one-year low in July
Latest reading: Harmonized inflation dropped to 2.6% in July, edging down from June’s 2.9%. July's reading marked the weakest inflation rate since January 2024. The decline was broad-based, with reduced price pressures recorded for food and non-alcoholic beverages, recreation, transportation, and housing and utilities. Accordingly, the trend pointed down, with annual average harmonized inflation coming in at 3.8% in July (June: 4.1%). Meanwhile, consumer price inflation edged down to 1.9% in July from June’s 2.1%. Finally, harmonized consumer prices dropped 0.85% from the previous month in July, contrasting the 0.48% increase seen in June. July's result marked the weakest reading since April 2023.
Consensus Forecasts and Projections for the next ten years
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 16 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.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Belgian inflation projections.
Want to get access to the full dataset of Belgian inflation forecasts? Send an email to info@focus-economics.com.
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