Food prices in Belgium have experienced a steeper increase compared to most neighboring countries over the past three years, according to a report by the French IÉSEG School of
Management.
The latest inflation report, analyzing price trends from October 2021 to October 2024, highlights that the average price of food products (excluding beverages) in Belgium surged by 27%. In comparison, eight eurozone countries, including Luxembourg, France, Italy, and the Netherlands, recorded less pronounced increases in food prices.
Significant variations were observed across different product categories in Belgium. Olive oil prices saw the sharpest rise, soaring by 100.6%. Potatoes and eggs also experienced notable price hikes of 48.3% and 42.1%, respectively.
On the other hand, the smallest increase was recorded for dried fruits and nuts, which rose by 7.2%. Among beverages, spirits and liqueurs became 7.9% more expensive, while strong beers saw a 10.9% price rise.
Essential food items, such as bread, poultry, cheese, whole milk, and eggs, saw steeper price increases in Belgium than in its neighboring countries. However, a few products, including sugar, beef, and spices, experienced more moderate price growth in Belgium compared to these countries.