Belgium: Inflation rises to the highest level in over two years
October 28, 2010
In October, consumer prices added 0.1% over the previous month, which came in below the 0.3% increase observed in September. The main drivers behind the October reading were higher prices for meat, as well as for electricity, which were offset by lower prices for vegetables. In spite of the small price increase, annual inflation rose from 2.9% in September to 3.0%, which marked the highest level since November 2008. In addition, annual average harmonised inflation (HICP) jumped from 1.2% in August to 1.5% in September (the last month for which data are available). September's figure marked the highest level since August 2009. The Central Bank expects harmonised inflation to average to 2.0% this year and 1.9% in 2011.
Author: Ricardo Aceves, Senior Economist