Inflation Belgium 2024
Average inflation: 3.2%
Current Inflation
Inflation is high at 3.2%, well above the ECB target.
Peak and Trough
The highest inflation was in June at 3.7%. The lowest inflation was in January at 1.8%.
- Highest month
- June: 3.7%
- Lowest month
- January: 1.8%
- Difference
- 1.9 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 7.6%. The lowest price increase was in Transport with an average of 1.4%.
- Highest increase
- Alcoholic beverages, tobacco and narcotics: 7.6%
- Lowest increase
- Transport: 1.4%
Historical Context
Current inflation is 0.8% lower than the 5-year average of 4.0%.
- 5-year average
- 4%
- 10-year average
- 2.8%
- All-time high (2022)
- 9.6%
- All-time low (2009)
- -0.1%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +0.9 percentage point.
- Change vs. previous year
- -0.9 percentage points
- Largest monthly swing
- January: -6.2 percentage points
ECB Target
Inflation is 1.2% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
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 €103.20 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 1.8% | -6.2 |
| February | 3.2% | -3.4 |
| March | 3.2% | -3.5 |
| April | 3.4% | -2.2 |
| May | 3.4% | -1.8 |
| June | 3.7% | -0.5 |
| July | 3.6% | -0.5 |
| August | 2.9% | -1.2 |
| September | 3.1% | +0.7 |
| October | 3.2% | +2.8 |
| November | 3.2% | +2.4 |
| December | 3.2% | +1.8 |
| Average | 3.2% |
Data source
Data from OECD. Last updated: 13/01/2026.