Belgium's inflation rate in January is set to remain one of the highest compared to its neighbouring countries, according to the Belgian statistics office, Statbel, on Wednesday.
The inflation rate amounted to 4.40% in January, remaining stable compared to the rate in December 2024, according to figures based on the European harmonised index of consumer prices (HICP).
The European harmonised index of consumer prices (HICP) is used to compare inflation rates across the EU. It varies from the national consumer index (CPI) due to the different composition and weight of the basket of goods and services.
If the rate based on the CPI is considered, inflation in Belgium actually rose in the first month of 2025. While the rate stood at 3.16% in December, it rose to 4.08% in January, the Belgian statics office noted.
Alcoholic beverages and tobacco recorded the highest inflation rate in the country in January, at 18.9%, based on the HICP. In turn, the lowest rate (-15.3%) was measured for clothing and footwear.
Energy products, processed products, unprocessed food (fruit, vegetables, meat and fish), and services (including rent) saw their inflation increase in January compared to December, Statbel highlighted.
The inflation rate on housing, water and energy cause the greatest upward effect on inflation in January (2.2 percentage points). Clothing and footwear had the largest downward effect, with -1.3 percentage points.
The final HICP for EU Member States in January is set to be published by the European statistic office, Eurostat, on 24 February.
However, the current estimates show Belgium's January rate will remain the highest compared to its neighbouring countries, according to Statbel. The Netherlands is expected to have an inflation rate of 2.9%, a decrease from its December 3.9% rate. Germany is set to maintain a rate of 2.8%, while France's rate is set to be 1.8%.
