Belgium July 2026 producer price inflation eases to 9.1% as energy pressures cool

Belgium’s producer price inflation slowed to 9.1% year on year in July 2026 from 9.7% in June, as domestic price pressures eased to 8.3% from 9.1%, partly offset by faster inflation in foreign markets at 11.0% from 8.2%. The moderation was driven in part by a sharp slowdown in energy inflation to 16.6% from 24.4% and softer manufacturing inflation, which eased to 9.0% from 10.3%. By contrast, price growth accelerated in mining and quarrying to 2.3% from 1.9% and in electricity, gas, steam and air conditioning supply to 11.5% from 4.3%, while water supply, sewage, waste management and remediation activities held steady at 4.2%. Producer prices for consumer goods still declined, but at a slower pace of 1.3% after a 2.2% fall, reflecting milder deflation in non-durable goods. Inflation also picked up for intermediate goods and durable consumer goods. On a monthly basis, producer prices fell 1.1% in July after rising 0.8% in June.