Belgium Producer Deflation Persists in December

Producer prices in Belgium declined for the third consecutive month, falling by 1.8% year-on-year in December 2025, the biggest decrease since October 2024, after a 1.1% drop in November. The deflation was mainly driven by lower prices in the electricity, gas, steam, and air conditioning supply sector, which fell 6.84%, following a 2.64% decline in the previous period. Manufacturing prices also edged down by 1.49%, compared with a 1.1% drop in November. In contrast, price growth in the mining and quarrying sector slowed slightly to 1.2% from 1.38%, while inflation for water supply, sewerage, waste management, and remediation activities remained steady at 13.45%. On a monthly basis, producer prices were unchanged.

Producer prices in Belgium fell by 1.1% year-on-year in November 2025, deepening the decline from a 0.4% drop in October. This marks the sharpest contraction since October 2024, largely driven by continued deflation in the manufacturing sector, which fell 1.1% compared with a 0.6% decline in the previous month, and by lower costs for electricity, gas, steam, and air conditioning supply, which dropped 2.6% after rising 0.6% in October. Meanwhile, producer inflation accelerated in the mining and quarrying sector, climbing 1.4% compared to 0.8% previously, while it remained unchanged for water supply, sewerage, waste management, and remediation activities at 13.5%. On a monthly basis, Belgian producer prices increased 0.6% in November, mainly driven by a 3.3% rise in energy costs.

Producer prices in Belgium fell by 0.4% year-on-year in October 2025, reversing a 0.4% increase in the previous month. It marked the first producer deflation since July, as prices fell significantly for energy (-4.06% vs -0.51% in September), while it slipped for consumer goods (-0.32% vs 0.45% in September) and non-durable consumer goods (-0.36% vs 0.45%). Moreover, prices moderated for capital goods (1.02% vs 1.29%) and durable consumer goods (0.49% vs 0.51%). Meanwhile, costs increased at a faster pace for intermediate goods (1.06% vs 0.39%). On a monthly basis, Belgian producer prices fell 0.2% in October.