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Food price inflation falls in Belgium, but still at 4.65%

13:58 02/03/2024

While overall inflation continues to rise in Belgium – from 1.75% in January to 3.2% in February – food inflation has declined but remains high, according to statistics office Statbel.

“Food inflation - including alcoholic beverages - has decreased for the 11th month in a row and now stands at 4.65% versus 6.58% in January,” Statbel said in its report. “The contribution of food products to inflation currently amounts to 0.95 percentage points.”

Some products, however, such as seafood, saw a very sharp increase of more than 30% year on year. Olive oil also remains 23% more expensive than a year ago.

Non-food categories that have seen a decline when it comes to inflation include confectionery, holiday villages and products for pets.

Conversely, the most significant price increases in February were for natural gas, electricity, motor fuels, hotel rooms, rents, vegetables and alcoholic beverages.

Underlying inflation, which does not take into account changes in energy and unprocessed food prices, also fell for the ninth consecutive month to 4.25% in February, compared with 4.7% in January and 5.47% in December.

Written by Helen Lyons