The cost of living is on the rise, with inflation increasing by 3.18% in March and 3.37% in April. Food prices decreased to 0.31% in June compared to 1% in May, while energy inflation rose to 15.10% from 11.17%. Gas prices were up by an average of 6%, with electricity rising by around 3.4%.
The Belgian statistics office Statbel attributes this increase in inflation to the phasing out of government support measures. Food prices have stabilized at a level higher than before the pandemic, with certain products like milk and tea becoming cheaper in the past year. Services inflation has also increased, driven mainly by catering, tourism, and events, resulting in a rise from 3.88% to 4.55%. Core inflation, which excludes energy and unprocessed foods, rose to 2.97% in June.
Aside from these economic changes, there have been significant developments in various industries such as manufacturing precision through diecasting and the importance of home decor. The digital surge has also revolutionized online casinos and gambling, presenting both opportunities and challenges for businesses operating online. Additionally, property developers play a crucial role in shaping urban landscapes.
Overall, it’s important for individuals and businesses alike to stay informed about these economic changes and adapt accordingly to remain competitive and financially stable during this time of uncertainty.