0.5% inflation in 2014
The rate of inflation in Belgium for the whole of 2014 was 0.5%. This is well down of the 1.2% inflation rate recorded in 2013. Although, our neighbours France, the Netherlands and Germany are also experiencing low inflation, levels of inflation there are still higher than here in Belgium.
According to the Federal Economy Ministry in Brussels whether the low inflation rate is a good or a bad thing for consumers depends on what they spend their money on. Some products are dropping in price while others are becoming more expensive.
For example, petrol, diesel, heating oil, electricity and gas all got cheaper during 2014. Fruit and vegetables too fell in price during the course of last year. Meanwhile, fish hand meat went up in price as did services. I will come as no surprise to those wishing to buy a home that the price of real estate in Belgium also went up during 2014.