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Over the past three years, food prices in Belgium have risen more sharply than in its neighbouring countries, a new inflation study shows. However, there are big differences between products.
Essential products
Average food prices in Belgium rose by 27 % between October 2021 and last month, which is a faster pace than that in Luxembourg (+ 21.4 %), France (+ 22.9 %), Italy (+ 24.3 %) and the Netherlands (+ 24.9 %).
However, there are big differences between products. Price increases were strongest for olive oil (+ 100.6 %), potatoes (+ 48.3 %) and eggs (+ 42.1 %). On the other hand, dried fruits and nuts (+ 7.2 %), spirits and liqueurs (+ 7.9 %) and strong beers (+ 10.9 %) stayed well below the average rise.
The report further suggests that price increases for many essential products were stronger in Belgium than in neighbouring countries, such as bread (+ 27.3 %), poultry (+ 33.5 %), cheese (+ 33.4 %), whole milk (+ 30.9 %) and the aforementioned olive oil and eggs. In contrast, sugar (+ 35.4 %), beef (+ 19.16 %) and sauces and condiments (+ 24 %) rose less fast in Belgium than in neighbouring countries.
For his latest report, Eric Dor (Director of Economic Studies at the IÉSEG School of Management) compared the increase in food prices between Belgium and other Eurozone countries from October 2021 to October 2024.
