Latest reading: Consumer prices increased 2.8% in annual terms in July, following a 3.2% rise in the previous month. Relative...
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 2025.
Source: Macrobond.
Belgium Inflation Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 3.2 | 10.3 | 2.3 | 4.3 | 3.0 |
| Inflation (HICP, ann. var. %, eop) | 6.6 | 10.2 | 0.5 | 4.4 | 2.2 |
Inflation slows in June from the prior month
Latest reading: Harmonized consumer prices increased 3.3% on a year-on-year basis in June, following a 4.0% rise in the previous month. Relative to the previous month's data, there were reduced price pressures for food and non-alcoholic beverages (-0.1% in annual terms vs +0.9% in May), transportation (+6.1% vs +8.5% in May), housing and utilities (+6.6% vs +7.2% in May) and restaurants and hotels (+3.7% vs +4.7% in May). In contrast, price pressures were higher for recreation in June (+5.4% vs +5.1% in May). Meanwhile, consumer prices were up 3.4% on a year-on-year basis in June, following a 4.1% rise in the prior month. Finally, harmonized consumer prices were down 0.12% in June in month-on-month terms, following a 0.33% fall in the prior month.
Panelist insight: KBC’s economists commented on the outlook: “Looking ahead, we continue to forecast Belgian headline inflation to average 3.2% this year before moderating again and reaching 2.1% in 2027. On the one hand, lower futures prices for oil and gas compared to a month ago imply lower expected energy price inflation. On the other, we now see indirect effects contributing somewhat more to core inflation over the next months than previously expected.”
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 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.
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.
Latest Global Inflation News
-
Korea: Inflation slows in July from June -
Qatar: Inflation is stable in June Latest reading: Consumer prices were up 2.2% on a year-on-year basis in June, unchanged from the prior month’s reading. Relative... -
Switzerland: Inflation eases in July from the prior month Latest reading: Consumer prices were up 0.4% on a year-on-year basis in July, following a 0.5% rise in the previous... -
Indonesia: Inflation decelerates in July from the prior month Latest reading: Consumer prices rose 2.9% on a year-on-year basis in July, following a 3.3% increase in the prior month... -
Vietnam: Inflation ebbs in July from June Latest reading: Consumer prices increased 4.4% in annual terms in July, following a 4.7% rise in the prior month and... -
Poland: Inflation accelerates in July from June Latest reading: Consumer prices were up 3.0% on a year-on-year basis in July, following a 2.5% increase in the prior... -
Kenya: Inflation rises in July from June Latest reading: Consumer prices increased 6.5% on a year-on-year basis in July, following a 6.4% rise in the previous month....