Belgium Inflation Rises to 3-Month High

Belgium’s annual inflation rose to 4.07% in April 2026, from 1.65% in March, marking the highest reading since January 2025. Energy prices surged to 10.58%, rebounding from a 4.41% decline in the previous month. Similarly, natural gas prices picked up to 11.4% from a 14.7% drop previously, while motor fuel prices soared by 27.4%. Inflation was primarily driven by stronger price growth in transport, which accelerated to 7.8% from 5.0%, followed by alcoholic beverages, tobacco and narcotics (2.46% vs 0.36% in March), information and communication (3.49% vs 2.97%), recreation and culture (6.85% vs 5.27%), and miscellaneous goods and services (1.76% vs 0.96%). At the same time, prices rebounded for food and non-alcoholic beverages (1.89% vs -0.87%) and housing and utilities (3.02% vs -3.00%). On a monthly basis, consumer prices increased by 1.47%, the fastest pace since October 2022, following a 0.12% gain in the previous month.

Belgium's annual inflation rose to 1.65% in March 2026, up from 1.45% in February. Despite the uptick, energy prices fell by 4.41%, although less pronounced than the 7.89% drop recorded in the previous month. Similarly, deflation eased for natural gas (-14.1% vs. -14.7%), while motor fuel prices rose by 11.9%. Inflation was primarily driven by stronger price growth in transport, which accelerated to 5.0% from 1.6%, followed by clothing and footwear (3.3% versus 1.0%), recreation and culture (5.3% versus 4.5%), and health (6.6% versus 6.5%). Downward pressures came mainly from housing and utilities (-3.0% versus -2.2%) and food (-0.9% versus 0.7%). Meanwhile, inflation slowed for restaurants and hotels (4.3% versus 5.0%) and was unchanged for furnishings (0%) and education (2.4%). On a monthly basis, consumer prices increased by 0.12%, down from an increase of 0.54% in the previous month.

Belgium’s annual inflation rose to 1.45% in February 2026 from an over two-year low of 1.10% in the prior month. Upward pressure came mostly from prices of health (6.47% vs 6.54% in January); restaurants & hotels (5.03% vs 4.83%); recreation, sport & culture (4.53% vs 3.59%); information & communication (3.06% vs 2.75%) and alcoholic beverages & tobacco (1.78% vs 0.64%). On the other hand, prices declined for housing & utilities (-2.18% vs -2.29%) and furnishings & household equipment (-0.09% vs -0.55%): On a monthly basis, the CPI increased by 0.54%, after rising by 0.44% in the preceding month.