Belgian year-on-year inflation – the rate at which prices in the shops rise - has taken a new knock. February inflation stood at 6.62%,down from 8.05% in January. The fall is attributed to lower energy prices. Meanwhile food inflation continues to rise.
The February figure means a shop that cost 100 euros last February already costs 106 euros this year. Life is still getting dearer but the rate at which has decreased for the fourth month in a row. Belgian inflation peaked at 12.27% in October.
Natural gas prices were down nearly 28% on the month, electricity prices over 16%.
Food inflation continues to rise and reached 16.12% last month. It’s above all oils, fish, dairy, bread, grains and meat that became more expensive. The price hike is the result of businesses passing on higher energy and wage costs to consumers.