Belgium's Inflation Rate Jumps to 3.97% Amid Rising Energy Costs

Belgium's inflation rate rose to 3.97% in August, according to official data. This marks the second consecutive monthly acceleration and brings inflation back to levels not seen since early 2024.

The increase is driven primarily by higher energy costs and food prices, with base effects from last year's energy price declines and a rebound in global food commodity prices contributing to the rise.

Broad-based price increases were observed across various categories, with services inflation also remaining sticky.

This divergence puts Belgium's inflation rate above the eurozone average of 2.2% in July, partly due to the country's wage indexation system.