In May, the pace at which life is getting more expensive slowed again: inflation fell back to 5.2 per cent, thanks to cheaper electricity and gas prices. But it is too early to rejoice: food prices are still rising sharply with food inflation at 15.51 per cent.
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Belgian inflation falls, but sharply rising food prices continue to cause worries
Colin Clapson
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Inflation in Belgium - the general rise in price levels – again slowed slightly in May falling to 5.2 per cent according to figures from Statbel, the federal government's statistical service. It does mean that prices were up 5.2 per cent compared to May last year. A product that cost 100 euros in May last year, will now set you back 105.2 euros. Compared to the previous month, the increase is again slightly lower.
Like last month, the drop in inflation is largely due to energy prices. These are a whopping 21.98 per cent lower than a year ago - when prices rose sharply. Electricity is 26.3 per cent cheaper, natural gas as much as 60.4 per cent lower.
Food prices present a completely different picture: food prices are still rising 15.51 per cent. Food price rises represent more than half of the general inflation rate this month. If you take sharply declining energy prices out of the calculation, inflation even rises to 9.3 per cent.
Prices for oils, fish, dairy products, bread and cereals, and meat rose sharply. Inflation for oils this month stood at 19.9 per cent, for fish it is 12.2 per cent, for dairy products 23.8 per cent, for bread and cereals 15.9 per cent and for meat 12.9 per cent.