PUBLISHED March 27, 2026
Inflation Edges Higher in February
According to data published by Statbel, inflation in Belgium increased to 1.45% in February 2026, up from 1.10% in January but still below the 2.06% recorded in December. The figures indicate a modest upward movement in consumer prices, suggesting that inflationary pressures are stabilising at a relatively low level.
Monthly Price Increase Continues
On a monthly basis, the consumer price index rose by 0.54%, confirming a continued increase in price levels compared to the previous month.
This development reflects ongoing, though moderate, price adjustments across the economy rather than a sharp acceleration in inflation.
Energy Prices Continue to Weigh on Inflation
A key factor limiting overall inflation remains the negative contribution from energy prices. Energy inflation stood at -7.89% in February, continuing its downward impact on the overall index. Prices for fuels and heating oil declined significantly compared to the previous year, helping to offset increases in other categories.
Services Drive Price Increases
In contrast, services continue to exert upward pressure on inflation. Service price inflation rose to 4.75%, making it one of the strongest contributors to overall price growth. This highlights the persistence of domestic price pressures, even as external factors such as energy costs push inflation downward.
Underlying inflation, which excludes energy and unprocessed food, remains relatively high. Core inflation reached 2.83% in February, up from 2.54% in January, indicating that price pressures within the economy are still present. This suggests that while headline inflation is low, underlying dynamics remain more persistent.
Underlying inflation, which excludes energy and unprocessed food, remains relatively high. Core inflation reached 2.83% in February, up from 2.54% in January, indicating that price pressures within the economy are still present. This suggests that while headline inflation is low, underlying dynamics remain more persistent.
Price developments in other categories were more moderate. Food inflation stood at 0.66%, while rent inflation slightly decreased to 3.48%. These figures indicate relatively stable developments in essential consumer categories, without major fluctuations.
Overall, the data presents a mixed picture of inflation in Belgium. While declining energy prices continue to reduce overall inflation, rising service costs and stable core inflation indicate ongoing internal price pressures. This combination reflects a transition phase in the inflation environment.
Looking ahead, Belgium’s inflation is likely to remain moderate but uneven across sectors. The continued influence of energy prices and the persistence of service inflation will be key factors shaping future developments. The data suggests a stable outlook, though underlying pressures have not fully disappeared.
Price developments in other categories were more moderate. Food inflation stood at 0.66%, while rent inflation slightly decreased to 3.48%. These figures indicate relatively stable developments in essential consumer categories, without major fluctuations.
Overall, the data presents a mixed picture of inflation in Belgium. While declining energy prices continue to reduce overall inflation, rising service costs and stable core inflation indicate ongoing internal price pressures. This combination reflects a transition phase in the inflation environment.
Looking ahead, Belgium’s inflation is likely to remain moderate but uneven across sectors. The continued influence of energy prices and the persistence of service inflation will be key factors shaping future developments. The data suggests a stable outlook, though underlying pressures have not fully disappeared.
