Belgium’s annual inflation rate rose to 5.26% in October 2026, its highest level since April 2023, up from 4.69% in September. The acceleration was primarily driven by energy prices, with energy inflation surging to 33.22% from 24.37%, while electricity inflation climbed to 23.7% from 13.1%. Inflation also accelerated in housing, water and energy (9.51% vs. 6.92%), transport (6.98% vs. 5.29%), recreation and culture (8.95% vs. 8.16%), hotels and restaurants (5.06% vs. 3.7%), and health (6.74% vs. 6.62%). In contrast, inflation excluding energy eased to 2.6% from 2.83%, while food prices remained largely unchanged after rising by 0.26%. Meanwhile, the EU harmonised annual inflation rate rose to 5.2%, its highest level since July 2024, up from 4.5% in the prior month. On a monthly basis, consumer prices increased by 0.91%, accelerating from a 0.39% rise in September.