Consumer price index of December 2018
- Inflation decreased from 2.78% to 2.34% in December.
- The consumer price index has decreased by 0.26 point or 0.24% this month.
- Inflation based on the health index has declined from 2.48% to 2.17%.
- The smoothed health index amounted to 106.01 points in December.
- The most significant price increases in December were registered for holiday villages, travels abroad, meat, airplane tickets, vegetables and the purchase of vehicles. However, motor fuels, electricity, natural gas, fruit, alcoholic beverages and bundled telecommunication services have had a decreasing effect on the index.
The consumer price index amounts to 108.22 points in December 2018. The index has decreased by 0.26 point over the month. Inflation has dropped from 2.78% to 2.34%. The health index has decreased by 0.03 point this month and now stands at 108.45 points. Inflation based on the health index has fallen to 2.17% from 2.48%. The most significant price increases this month were registered for holiday villages, travels abroad, meat, airplane tickets, vegetables and the purchase of vehicles. These increases have been mostly offset by price decreases for motor fuels, electricity, natural gas, fruit, alcoholic beverages and bundled telecommunication services.
The consumer price index has declined by 0.26 point or 0.24% in December 2018 and now amounts to 108.22 points, compared to 108.48 points in November 2018 (2013=100).
The health index has gone down by 0.03 points to 108.45 points in December, compared to 108.48 points in November. The smoothed health index amounted to 106.01 points in December. The central index for public service and social benefits, set at 107.20 points, has therefore not been reached this month. The last time the central index was exceeded was in August 2018.
Products with the largest increasing effect compared to last month are holiday villages, travels abroad, meat, airplane tickets, vegetables and the purchase of vehicles. Motor fuels, electricity, natural gas, fruit, alcoholic beverages and bundled telecommunication services provided the largest downward pressure compared to last month. The most important trends this month are:
|Holiday villages||+0.050 point||Motor fuels||-0.210 point|
|Travels abroad||+0.035 point||Electricity||-0.145 point|
|Meat||+0.035 point||Natural gas||-0.055 point|
|Airplane tickets||+0.030 point||Fruit||-0.045 point|
|Vegetables||+0.025 point||Alcoholic beverages||-0.035 point|
|Purchase of vehicles||+0.025 point||Bundled telecommunication services||-0.035 point|
Stays in holiday villages cost on average 6.7% more than last month. Travels abroad have increased on average by 2.1%. Meat became 0.8% more expensive. Airplane tickets increased on average by 5.1% this month. Prices for vegetables have increased on average by 1.4%. The purchase of vehicles became 0.3% more expensive compared to last month.
Motor fuels have been on average 5.5% less expensive compared to the previous month. Electricity has become on average 3.3% less expensive. The price of natural gas is 2.5% lower than last month. Fruit has become 3.4% less expensive. Prices of alcoholic beverages have decreased on average by 2.2%. Bundled telecommunication services were 1.2% less expensive compared to last month.
Inflation now amounts to 2.34% compared to 2.78% in November and 2.75% in October. Inflation based on the health index amounted to 2.17% this month compared to 2.48% in November and 2.29% in October. Inflation without energy has gone down to 1.59% in December compared to 1.66% in November and 1.52% in October. Core inflation, which does not take into account price evolutions of energy products and unprocessed food, stands at 1.62% in December, against 1.63% in November and 1.40% in October.
Inflation of food now amounts to 1.56%, compared to 1.94% last month and 2.63% in October. Fresh fruit now costs 0.5% less than in December 2017. Fresh vegetable prices are also on the rise: 4.0% on an annual basis. Fish and shellfish are 1.4% more expensive than in December 2017. Prices have increased by 2.7% for non alcoholic beverages and also by 2.7% for alcoholic beverages. Tobacco prices have gone up by 6.4% compared to December last year. Energy inflation is now running at 8.85%, down from 12.58% in November and 13.75% in October. Electricity is now 6.4% more expensive than a year ago. Natural gas is 14.6% more expensive than in December 2017. Prices for domestic heating oil, calculated based on a smoothed 12-month moving average, have increased by 17.7% in a year. Motor fuels are 5.6% more expensive than last year. Inflation for services has gone down to 2.05% from 2.11%. Inflation for rents has slightly decreased and now stands at 0.87%, compared to 0.96% in November.
The following products and services have registered the sharpest price increases compared to last year in December:
|Domestic heating oil||17.7%|
|Other tobacco products (e.g. loose tobacco)||13.3%|
|Package holidays abroad||8.4%|
|Museums, libraries, zoological gardens||7.4%|
|Fixed telephone services||6.8%|
The following products and services have registered the sharpest price decreases compared to last year in December:
|Other fuels (LPG)||-7.4%|
|Frozen vegetables, excluding potatoes||-5.0%|
|Other information processing equipment (e.g. smart watch)||-4.6%|
|Personal computers (laptops)||-4.3%|
|Video equipment (TV, ...)||-4.1%|
|Dried fruit and nuts||-3.6%|
|Fruit wine (cider)||-3.3%|
|Pre-recorded media storage (Bluray, DVD, …)||-3.1%|
The main group with the largest upward effect on inflation in December was housing, water, energy with an effect on inflation of 0.51 percentage point. The largest downward effect was measured for "food and non-alcoholic beverages" (-0.17 percentage point).
The main group with the largest contribution[ii] to inflation is housing, water and energy with 0.85 percentage point. The lowest contribution to inflation was registered by the main group communication, with 0.00 percentage point.
|2013 = 100||September||October||November||December|
|Consumer price index||107.58||108.31||108.48||108.22|
|Smoothed health index*||105.23||105.54||105.79||106.01|
|* defined in the law of 23 April 2015 on the promotion of employment (Belgian Official Journal of 27 April 2015)|