Inflation Belgium 2004
Average inflation: 2.1%
Current Inflation
Inflation is normal at 2.1%, around the ECB target.
Peak and Trough
The highest inflation was in October at 2.9%. The lowest inflation was in March at 1.1%.
- Highest month
- October: 2.9%
- Lowest month
- March: 1.1%
- Difference
- 1.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Alcoholic beverages, tobacco and narcotics with an average of 5.3%. The lowest price increase was in Recreation and culture with an average of 0.3%.
- Highest increase
- Alcoholic beverages, tobacco and narcotics: 5.3%
- Lowest increase
- Recreation and culture: 0.3%
Historical Context
Current inflation is around the 5-year average of 2.1%.
- 5-year average
- 2.1%
- 10-year average
- 1.8%
- All-time high (1985)
- 4.9%
- All-time low (1998)
- 1%
Trend
Inflation has remained relatively stable. Compared to 2003, the difference is minimal (+0.5 percentage point).
- Change vs. previous year
- +0.5 percentage points
- Largest monthly swing
- May: +1.6 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 1.6% | +0.4 |
| February | 1.3% | -0.4 |
| March | 1.1% | -0.7 |
| April | 1.9% | +0.4 |
| May | 2.6% | +1.6 |
| June | 2.3% | +0.7 |
| July | 2.4% | +0.9 |
| August | 2.3% | +0.5 |
| September | 2.0% | +0.2 |
| October | 2.9% | +1.3 |
| November | 2.6% | +0.7 |
| December | 2.3% | +0.6 |
| Average | 2.1% |
Data source
Data from OECD. Last updated: 13/01/2026.