Food prices in Belgium rose more sharply last year than in neighboring countries, despite a lower general inflation rate. The total inflation in Belgium was 2.3%, compared to 6.0% in Germany, 4.1% in the Netherlands, and 5.7% in France, largely due to differences in energy prices. Inflation rate for services in Belgium was higher than in neighboring countries, particularly in sectors such as restaurants, housing, and hospital services. Food prices increased by an average of 12.7% on average and reached an all-time high in the country.
The annual report of the Price Observatory of the Federal Public Service Economy also revealed that food inflation was still slightly lower than that of neighboring countries, ranging between 11.3% and 11.7%. On the other hand, the inflation rate for services was higher than that of neighboring countries due to factors such as restaurants, housing, and hospital services. It is predicted that overall inflation rate in Belgium will be 6.3% for the year 2023 by observatory experts.
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