Belgium's annual inflation rate edged up to 2.17 percent in February of 2019 from 1.99 percent in the previous month. Prices rose faster mainly for food & non-alcoholic beverages (1.47% vs 1.41% in January) such as meat (1.67% vs 0.84%) and vegetables (4.87% vs 3.56%) and transport (2.22% vs 1.50%), namely diesel (8.58% vs 4.72%) and lubricants (1.87% vs 1.73%). Additional upward pressure came from cost of recreation & culture (3.52% vs 2.75%); hotels & restaurants (1.11% vs 0.79%); communications (0.29% vs 0.12%) and furnishings (1.06% vs 0.89%). On the other hand, inflation slowed for housing & utilities (4.09% vs 4.34%), including water (1.20% vs 1.35%) and electricity & gas (9.05% vs 9.78%); health (0.43% vs 0.46%) and miscellaneous goods & services (1.98% vs 2.17%). On a monthly basis, consumer prices inched up 0.35 percent, after falling 0.05 percent in the prior month. Inflation Rate in Belgium averaged 5.66 percent from 1921 until 2019, reaching an all time high of 222.81 percent in January of 1947 and a record low of -18.11 percent in October of 1921.
Inflation Rate in Belgium is expected to be 2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Belgium to stand at 2.50 in 12 months time. In the long-term, the Belgium Inflation Rate is projected to trend around 2.70 percent in 2020, according to our econometric models.