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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
BELGIUM
HICP inflation accelerated in June in Belgium, to +5.5% Y/Y (vs +4.9% prior) according to the Statbel flash estimate. Leaving aside a stall last month, this is the sixth consecutive increase and the highest yearly rate since January 2023. While recent headline upticks were largely energy-driven, services inflation, which remains under elevated scrutiny in the whole Eurozone, also accelerated this month.
- National CPI, on which more underlying information is available in the flash release, accelerated to 3.74% Y/Y (from 3.36%). On a sequential comparison, CPI rose by 0.22% M/M (vs a 0.12% 2016-2023 June average).
- Core inflation (excl. energy and unprocessed food) came in at 2.97% Y/Y vs 2.80% in May. Underlying services inflation also accelerated, to 4.55% Y/Y (vs 3.88% May). In particular, hospitality and communications inflation printed higher in June than in May.
- Elsewhere, the energy category printed at +15.10% Y/Y vs +11.17% May, and food prices (incl. alcoholic beverages) increased +0.31% Y/Y in June (vs +1.0%).
- Belgium makes up 3.8% of the total Eurozone HICP basket. While its contribution to the overall print will henceforth be limited, the details of the national release again pointed towards ongoing stickiness of services inflation.
MNI, Statbel
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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