Supermarket prices in Belgium are still on the rise, although the rate of inflation has slowed down slightly, according to consumer organization Testaankoop. The organization has calculated

that inflation, based on the prices of over 3000 products, is now at 15.4%, a significant improvement compared to the peak of over 20% recorded at the beginning of 2023.

Despite the slower rate of increase, Testaankoop is calling on the government to investigate whether "greedflation" is playing a role in the price hikes. The term "greedflation" refers to the practice of companies raising prices disproportionately to increase their profits. Testaankoop questions why, despite falling commodity and energy prices on the international market, consumers are not seeing the benefit of these reductions in supermarket prices.

The average family of two spent 531 euros in the supermarket in July, one euro more than in June and 71 euros more than a year ago. The prices of vegetables have increased by an average of 33%, while global cereal prices have fallen by 17% since October 2022. Despite this, many pasta products included in Testaankoop's comparison have become more expensive since October.

The National Bank of Belgium has reported that a recent study did not find widespread evidence that the price hikes in 2022 were driven by opportunistic profit margins.

In light of these ongoing concerns, Testaankoop reiterates its call for a further investigation into the possibility of "greedflation" in supermarkets to ensure fair pricing for consumers.