Belgium Producer Deflation Eases in January

Producer prices in Belgium decreased by 0.6% year-on-year in January 2026, easing from a 1.8% drop in the previous month. Prices in the domestic market rebounded (0.9% vs -0.3% in December), while prices in non-domestic markets fell at a softer pace (-4.0% vs -5.3%). Among sectors, deflation eased in manufacturing (-0.1% vs -1.5%), while prices increased faster in water supply, sewerage, waste management and remediation activities (16.4 vs 13.5%). Conversely, prices declined in mining and quarrying (-1.2% vs 1.2%) and electricity, gas, steam, and air conditioning supply (-7.4% vs -6.8%). On a monthly basis, producer prices rose by 1.5% in January, after a flat reading 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.