FX.co ★ Belgium Inflation Rate Climbs to Highest Since 2023

Belgium’s annual inflation rate rose to 4.69% in September 2026, its highest level since May 2023, up from 3.97% in August. The acceleration was driven mainly by a sharp increase in energy inflation, which jumped to 24.4% from 16.5%, and by a strong pickup in housing and utilities inflation, which climbed to 9.5% from 6.9%. Transport inflation also strengthened, advancing to 7% from 5.3%.

Additional upward pressure came from slightly faster price growth in health (6.7% vs. 6.6%), information and communication (1.9% vs. 1.6%), and restaurants and hotels (5.1% vs. 3.7%). By contrast, inflation for recreation, sports and culture eased to 8.9% from 9.2%, and food prices were flat year-on-year after having risen 0.3% in August.

On a monthly basis, consumer price growth remained broadly stable, with prices increasing 0.39%, following a 0.41% rise in August.