Inflation increases from 2.24 % to 2.35 %

Consumer prices
Inflation increases from 2.24 % to 2.35 %

Consumer price index of September 2018

  • Inflation increases from 2.24 % to 2.35 % in September.
  • The consumer price index remains unchanged at 107.58 points, like in the previous month.
  • Inflation based on the health index has increased to 1.91 %, up from 1.77 %.
  • The smoothed health index is running at 105.23 points in September.
  • The most significant price increases in September were registered for fruit, vegetables, domestic heating oil, motor fuels and travels abroad. However, airplane tickets, hotel rooms, bread and cereals as well as sugar, chocolate and jam and holiday villages have had a decreasing effect on the index.

The consumer price index is running at 107.58 points in September 2018 and remains unchanged from August. Inflation increases from 2.24 % to 2.35 %. The health index went down by 0.03 point to 107.52 points. Inflation based on the health index has increased from 1.77 % to 1.91 %. The most significant price increases in September were registered for fruit, vegetables, domestic heating oil, motor fuels and travels abroad. These increases were mainly offset by price decreases for airplane tickets, hotel rooms, bread and cereals, sugar, chocolate and jam as well as holiday villages.

In September 2018, the consumer price index remains unchanged and amounts to 107.58 points, like in the previous month (2013 = 100).

CPI_1graph201809_en.png

The health index went down by 0.03 point to 107.52 points, compared to 107.55 points in August. The smoothed health index is running at 105.23 points in September.

The central index for public service and social benefits, set at 107.20 points, has not been exceeded. The last time the central index was reached was in August 2018.

The most significant price increases in September were registered for fruit, vegetables, domestic heating oil, motor fuels and travels abroad. However, airplane tickets, hotel rooms, bread and cereals, sugar, chocolate and jam as well as holiday villages have had a decreasing effect on the index compared to the previous month. The most important trends this month are:

Upward: Effect: Downward: Effect:
Fruit +0.100 point Airplane tickets -0.115 point
Vegetables +0.055 point Hotel rooms -0.060 point
Domestic heating oil +0.040 point Bread and cereals -0.030 point
Motor fuels +0.035 point Sugar, chocolate and jam -0.030 point
Travels abroad +0.030 point Holiday villages -0.025 point

Prices of fruit have increased on average by 8.0 %. Prices of vegetables have increased on average by 3.4 % compared to the previous month. Domestic heating oil has become on average 2.7 % more expensive in September. Prices of motor fuels have increased on average by 0.9 %. Travels abroad are 2.0 % more expensive this month after seasonal adjustment.

Prices of airplane tickets have decreased on average by 16.0 % compared to the previous month. Prices of hotel rooms have gone down by 7.6 %. Bread and cereals are on average 1.1 % cheaper. Sugar, chocolate and jam are on average 2.6 % less expensive compared to the previous month. Prices of holiday villages have decreased on average by 3.8 % compared to the previous month.

Inflation now stands at 2.35 % compared to 2.24 % in August and 2.17 % in July. Inflation based on the health index amounted to 1.91 % this month compared to 1.77 % in August and 1.71 % in July. Inflation without energy has gone up to 1.49 % in September, compared to 1.39 % last month and 1.38 % in July. Core inflation, which does not take into account price evolutions of energy products and unprocessed food, stands at 1.34 % in September, compared to 1.50 % in August and 1.36 % in July.

Food inflation now stands at 2.44 % compared to 1.55 % last month and 2.28 % in July. Fresh fruit were 13.8 % more expensive than in September 2017. Prices of fresh vegetables have increased by 5.6 % in a year. Fish and shellfish have become 1.2 % more expensive compared to September 2017. Butter is 9.4 % more expensive than last year. Prices have increased by 2.2 % for non-alcoholic beverages and by 3.3 % for alcoholic beverages. Tobacco prices have gone up by 6.3 % compared to September last year.

Energy inflation is now running at 9.87 %, compared to 9.92 % last month and 9.19 % in July. Electricity is now 3.4 % more expensive than a year ago. Natural gas is 12.7 % more expensive than in September last year. Prices for domestic heating oil, calculated based on a smoothed 12-month moving average, have increased by 14.6 % in a year. Motor fuels are now also 14.6 % more expensive than a yera ago. Inflation for services has decreased to 1.60 % from 1.89 %. Finally, inflation for rents remains unchanged compared to August and stands at 1.00 %.

The following products and services have registered the sharpest price increases compared to last year in September:

Upward: Inflation
L.P.G. 28.2 %
Diesel 20.2 %
Liquefied petroleum gas (butane and propane) 20.1 %
Domestic heating oil 14.6 %
Fresh fruit 13.8 %
Postal mail 13.5 %
Natural gas 12.7 %
Other tobacco products 12.7 %
Newspapers 12.2 %
Wine from other fruits (cider, etc.) 11.5 %

 

The following products and services have registered the sharpest price decreases compared to last year in September:

Downward: Inflation
Frozen vegetables -7.4 %
Other information processing equipment (smartwatch, …) -6.0 %
Soft drinks -4.3 %
Mobile telephone equipment -3.9 %
Computers -3.9 %
Pasta products and couscous -3.6 %
Miscellaneous accessories for house and garden -3.2 %
Sugar confectionery -3.0 %
Cookers, hobs and ovens -2.4 %
Video equipment -2.2 %

The main group with the largest upward effect on inflation in September was "Transport" with an effect of 0.37 percentage point. The largest downward effects were measured for “clothing and footwear” and “interior decoration and household appliances” (-0.12 percentage point).

CPI_2graph201809_en.png

The main group with the largest contribution to inflation is "Transport" with 0.69 percentage point. The lowest contribution to inflation were registered for the main groups “clothing and footwear” and "education", with 0.01 percentage point.

CPI_3graph201809_en.png

CPI_4graph201809_en.png

 
2013 = 100 June 2018 July 2018 August 2018 September 2018
Consumer price index 107.02 107.43 107.58 107.58
Inflation 2.08% 2.17% 2.24% 2.35%
Health index 107.01 107.44 107.55 107.52
Smoothed health index* 104.76 104.94 105.10 105.23
* defined in the law of 23 April 2015 on the promotion of employment (Belgian Official Journal of 27 April 2015)