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Belgian inflation amounts to 9.94%

Belgian STATBEL, the Belgian statistical office, declared the new inflation rate on 30 August 2022. It amounts to 9.94%.

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The announcement states the consumer price index of August 2022 with the following remarks:

  • Inflation rose from 9.62% to 9.94% in August, reaching its highest level since March 1976, when it stood at 9.96%.

  • The consumer price index this month increases by 1.00 points or 0.81%.

  • Inflation based on the health index has increased to 9.70% from 9.07%.

  • The smoothed health index is running at 119.39 points in August.

  • The high inflation this month, as in recent months, is largely due to high energy prices. Energy currently has an inflation rate of 49.81% and accounts for 4.43 percentage points of the total inflation.

  • Furthermore, inflation for food products has also sharply increased in recent months. Inflation for food products (including alcoholic beverages) stands at 9.71% this month, The contribution of food products to inflation currently amounts to 1.92 percentage points.

  • Core inflation, which does not take into account price evolutions of energy products and unprocessed food, stands at 5.74% in August, compared to 5.49% in July. This is a result of increased inflation for processed food and services.

  • The main price increases in August concerned electricity, natural gas, bread and cereals, clothing, confectionery, alcoholic beverages, hotel rooms, meat and personal care products. However, motor fuels, domestic heating oil and fruit had a downward effect on the index.

STATBEL announced that inflation rate for rents remained almost unchanged, going from 3.74% to 3.73%.

Some product prices went downwards such as television sets (-12.4%), smartphones (-8.8%) and mes's clothing (-3.7%).

Natural gas (106.9%), electricity (57.2%), domestic heating oil (52.6%) together with airplane tickets (41.1%) are among the most increased products and services.