Belgium Inflation Rate Climbs to Highest Since 2023

Belgium’s annual inflation rate climbed to 4.69% in September 2026, its highest level since May 2023, from 3.97% in the previous month. Energy inflation accelerated sharply to 24.4% from 16.5%, while inflation for housing and utilities surged to 9.5% from 6.9%. Transport inflation also increased to 7% from 5.3%. Additional upward pressure came from higher price growth in health (6.7% vs 6.6%), information and communication (1.9% vs 1.6%), and restaurants and hotels (5.1% vs 3.7%). In contrast, inflation in recreation, sports and culture eased to 8.9% from 9.2%, while food prices were unchanged from a year earlier, following a 0.3% increase in August. On a monthly basis, consumer price growth remained broadly stable, with prices rising 0.39% after a 0.41% increase in August.

Belgium’s annual inflation rate rose by 3.97% in August 2026 from 3.56% in the previous month, marking the strongest growth in three months. Energy prices jumped to 16.47% from 10.59%, while electricity inflation slowed to 7.8% from 7.9%. Moreover, costs increased for alcoholic beverages and tobacco (2.41% vs 1.22% in July), clothing and footwear (2.97% vs 1.21%), housing utilities (6.92% vs 4.88%), furniture and household equipment (0.46% vs 0.41%), transportation (5.29% vs 5.23%), information and communication (1.64% vs 0.92%), and insurance and financial services (3.69% vs 3.43%). Meanwhile, price growth moderated for food and non-alcoholic beverages (0.26% vs 0.29%), health (6.62% vs 6.66%), recreation and culture (8.16% vs 8.90%), and miscellaneous goods and services (1.68% vs 1.80%). On a monthly basis, consumer prices grew by 0.41% in August, easing from a 0.63% increase in July.

Belgium's annual inflation rate edged up to 3.56% in July 2026 from 3.4% in the previous month. Energy inflation accelerated slightly to 10.6% from 10.3%, while electricity prices rose at a faster pace (7.9% vs 6.2%). Additional upward pressure came from housing and utilities (4.6% vs 3.6%), driven in part by faster rent inflation (3.4% vs 3.2%), as well as recreation and culture (8.3% vs 8.1%), health (6.7% vs 6.6%), and insurance and financial services (2% vs 1.8%). Meanwhile, inflation eased for transport (5.5% vs 7.9%), restaurants and hotels (4.1% vs 5.9%), clothing and footwear (1.2% vs 2.3%), furnishings (0.1% vs 0.4%), and information and communication (1.6% vs 1.9%). Food prices fell 0.12% after rising 1.2% in June. On a monthly basis, consumer prices increased 0.63%, up from a 0.3% rise in the previous month.