Inflation, the figure that indicates how fast prices are rising in the shops in Belgium, stands at 3.64 per cent this month. That means life is now 3.64 per cent more expensive than a year ago. Price increases are more persistent than expected but are coming at a lower rate than in June. Compared to last year, olive oil and beers in particular became more expensive. TVs and smartphones are cheaper.
At 3.64 per cent July inflation is only a touch lower than in June, when inflation stood at 3.74 per cent. In March, inflation stood at 3.18 per cent, while in April and May the figure was around 3.3 per cent.
While energy-related inflation rose in June, July saw energy inflation drop from 15.01 per cent to 14.01 per cent. That figure remains high because gas and electricity prices rose a little, but mainly because the government's support measures to ease energy bills are no longer in place, while they were still there a year ago.
In contrast, flood inflation(including alcoholic beverages) rose slightly, from 0.31 per cent to 0.54 per cent in July. Compared to a year ago, olive oil and beers in particular became more expensive.
Airline tickets, hotels and campsites
Inflation for services also remains high and this is mainly due to higher labour costs.
In July there were price increases for airline tickets, hotel rooms and stays at holiday villages and campsites. On airline tickets, the increase was almost 40 per cent. Restaurants and cafés became a little more expensive, as did natural gas, tobacco, motor fuels and package holidays in Belgium.
In contrast, foreign travel (after a seasonal adjustment) and city trips had a lowering effect on the inflation figure.
Core inflation, which does not take into account the evolution of energy prices and the price of unprocessed foods, rose slightly. It now stands at 3.04 per cent, up from 2.97 per cent in June.