Consumer prices are still elevated, but at least for now the growth takes a break

Inflation in Belgium fell slightly in November, but prices are still 10.6 percent higher than a year earlier. This is partly due to the much higher energy prices, but the war in Ukraine also has an impact on prices of oils and grain products.

Inflation was still 12.3 percent in October, according to the Belgian statistics agency Statbel. The fact that inflation is falling is due to slightly lower prices for fuels, gas and electricity.

Inflation excluding energy costs rose to 7.8 per cent. In October, it was 6.97 percent. Food was 14.4% more expensive. In particular, oils, fish and grain products are much more expensive than a year earlier.

For example, oils such as frying oil are 41 percent more expensive than a year ago. Flour and other grains rose 34 percent in price. Furthermore, dairy is 21 percent more expensive and bread 17 percent.

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