Consumer price index of October 2018
- Inflation increased from 2.35% to 2.75% in October.
- Inflation rises mainly due to price increases for electricity and natural gas.
- The consumer price index has increased by 0.73 point or 0.68% this month.
- Inflation based on the health index has increased to 2.29%, up from 1.91%.
- The smoothed health index stood at 105.54 points in October.
- The main upward pressure in October came from electricity, natural gas, motor fuels, domestic heating oil, bread and cereals, fruit and holiday villages. However, products for pets and alcoholic beverages have had a decreasing effect on the index.
The consumer price index amounts to 108.31 points in October 2018. It has increased by 0.73 point over the month. Inflation has gone up to 2.75% from 2.35%. The health index has gained 0.74 point to 108.26 points. Inflation based on the health index has gone up from 1.91% to 2.29%. The main upward pressure this month came from electricity, natural gas, motor fuels, domestic heating oil, bread and cereals, fruit and holiday villages. These increases were mostly offset by price decreases for products for pets and alcoholic beverages.
The consumer price index has risen by 0.73 points or 0.68% in October 2018 and is now running at 108.31 points, compared to 107.58 points in September 2018 (2013=100).
The health index in October has gone up by 0.74 points to 108.26 points, compared to 107.52 points in September. The smoothed health index stood at 105.54 points in October. 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 in October are electricity, natural gas, motor fuels, domestic heating oil, bread and cereals, fruit and holiday villages. Products for pets and alcoholic beverages provided the largest downward pressure compared to last month. The most important trends this month are:
|Electricity||+0.260 point||Products for pets||-0.035 point|
|Natural gas||+0.150 point||Alcoholic beverages||-0.025 point|
|Motor fuels||+0.070 point|
|Domestic heating oil||+0.050 point|
|Bread and cereals||+0.040 point|
|Holiday villages||+0.030 point|
Prices of electricity have increased on average by 6.5%. Prices for natural gas have increased on average by 7.5%. Motor fuels have become 1.9% more expensive compared to last month. Domestic heating oil, calculated based on a smoothed 12-month moving average, has cost on average 3.4% more this month. Bread and cereals have become 1.3% more expensive. Prices for fruit have increased on average by 2.6%. Holiday villages have increased by 4.1% from the previous month.
Prices for products for pets decreased on average by 4.4%. Alcoholic beverages were on average 1.7% less expensive.
Inflation is now running at 2.75%, compared to 2.35% in September and 2.24% in August. Inflation based on the health index amounts to 2.29% this month compared to 1.91% in September and 1.77% in August. Inflation without energy has increased to 1.52% in October compared to 1.49% in September and 1.39% in August. Core inflation, which does not take into account price evolutions of energy products and unprocessed food, stands at 1.40% in October, against 1.34% in September and 1.50% in August.
Food inflation is now running at 2.63%, compared to 2.44% last month and 1.55% in August. Fresh fruit now costs 9.1% more than in October 2017. Fresh vegetable prices are also on the rise: 3.7% on an annual basis. Fish and shellfish are 3.0% more expensive than in October 2017. Butter is 6.5% more expensive than last year. Prices have increased by 3.6% for non alcoholic beverages and by 2.6% for alcoholic beverages. Tobacco prices have gone up by 6.2% compared to October last year. Energy inflation is now running at 13.75%, up from 9.87% in September and 9.92% in August. Electricity is now 8.7% more expensive than a year ago. Natural gas is 18.6% more expensive than in October 2016. Prices for domestic heating oil, calculated based on a smoothed 12-month moving average, have increased by 17.5% in a year. Motor fuels are 16.4% more expensive than last year. Inflation for services has gone down to 1.53% from 1.60%. Inflation for rents has slightly increased and now stands at 1.02%, compared to 1.00 % in September.
The following products and services have registered the sharpest price increases compared to last year in October:
|Domestic heating oil||17.5%|
|Liquefied petroleum gas (butane and propane)||15.9%|
|Other tobacco products (e.g. loose tobacco)||12.8%|
|Other meats (e.g. rabbit)||9.5%|
The following products and services have registered the sharpest price decreases compared to last year in October:
|Other information processing equipment (e.g. smart watch)||-4.0%|
|Frozen vegetables, excluding potatoes||-3.0%|
|Mobile telephone services||-2.5%|
|Fixed telephone equipment||-2.2%|
|Motor vehicle insurance||-2.0%|
|Cookers, hobs and ovens||-1.8%|
|Equipment for sound and pictures (e.g. HDMI, earphones,...)||-1.7%|
The main group with the largest upward effect on inflation in October was housing, water and energywith an effect on inflation of 0.62 percentage point. The largest downward effect was measured for the group "recreation and culture" (-0.18 percentage point).
The main group with the largest contribution to inflation is "housing, water and energy" with 1.01 percentage point. The lowest contribution to inflation was registered by the main group "education", with 0.01 percentage point.
|2013 = 100||July 2018||August 2018||September 2018||October 2018|
|Consumer price index||107.43||107.58||107.58||108.31|
|Smoothed health index*||104.94||105.10||105.23||105.54|
|* defined in the law of 23 April 2015 on the promotion of employment (Belgian Official Journal of 27 April 2015)|