Inflation in Belgium crept up again in October, rising to 3.2%, with the most significant price rises this month for rents and motor fuels.
The consumer price index, which tracks the changing prices of consumer goods and services, rose from 3.06% in September to 3.20% in October, according to the Belgian statistical office Statbel.
Statbel noted that the most significant price increases in October were for private rents (1.4% more expensive than last month), and motor fuels (+2.2%).
Other increases which had a notable upward impact on the index were bread and cereals (+1.5%), recreational sports services (+4%), clothing (+0.7%), meat (+0.8%), restaurants and cafés (+0.4%) and furniture (+1.4%).
Conversely, electricity, hotel rooms and domestic heating oil had the most significant downward effect on the index. Electricity prices dropped by 2.2% on average, while hotel rooms became on average 3.5% less expensive, and domestic heating oil prices went down by 2.9% on average.
Energy inflation
Energy inflation now stands at 7.26%, compared to 6.72% last month and 6.96% in August. For electricity, inflation is currently at 13.7% compared to 14.8% last month. Natural gas inflation went from 138.1% last month to 125.4% this month.
Statbel emphasised that the increase in inflation in recent months is due to the phase out of government energy supports.
Core inflation – which does not take into account price evolutions of energy products and unprocessed food – stood at 3.01% in October, compared to 2.80% in September and 2.73% in August.
Wage indexation
The smoothed health index, which is a measure of inflation used to inform the next indexation of pensions, social security benefits and some salaries and wages, stood at 130.13 points in October.
The next threshold for public wages and social benefits to rise is set at 130.67 points, as wages are largely expected to rise by January.
