Inflation back above 3% (original) (raw)

Foto: Belga

The federal statistics bureau Statbel has released the latest figures for inflation in Belgium. In September annual inflation stood at 3.06%. This is a rise of 0.2 percentage points on the August figure of 2.86%.

The so-called ‘Health Index’, a modified version of the consumer price index that excludes products such as alcoholic drinks, tobacco and petrol rose from 3.20% in August to 3.83% this month.

This figure is important as it is used to calculated index-linked rises in wages, benefits and rents.

Sharp rise in the price of electricity and gas

Essentials such as gas and electricity are included in the basket of products used to calculate the “Health Index”. During the past month the price of energy rose sharply. Gas is currently 14.8% more expensive than it was a year ago while the price of electricity has risen by 138.1%.

These price rises are in the main linked to the winding down of the measures brought in by the government to help households through the energy crisis in 2022 and 2023. The scrapping of the measures will continue to have an impact on inflation until February next year.

Inflation up even without taking energy prices into account

Excluding energy, the annual rate of inflation in September stood at 2.71% up, a rise of 0.24% on the August figure of 2.47%.

Some products have risen very sharply in price. For example, fresh sea food is 38.6% more expensive than it was a year ago. Cigarettes are 27.6% more expensive, rolling tobacco is up by 26.1%, olive oil by 26.6% and the price of various types of alcoholic drinks have also risen sharply.

Meanwhile, the price of tea is 20.5% lower than it was a year ago, laptops are 16.7% cheaper and the price of a smartphone is down 16.1%. Motorists will no doubt have noticed the fall in the price of petrol. It now costs 16% less to fill up your car than it did a year ago.