Belgian food prices follow trend of neighbouring countries, survey shows
Food inflation in Belgium is following the trend of neighbouring countries, according to a study by the Federal Public Service Economy, the results of which were announced by Economy minister Pierre-Yves Dermagne on Tuesday. Last month, consumer organisation Testaankoop called on the government to investigate whether "greedflation" was happening in Belgian supermarkets.
Inflation in recent months has left many people feeling that food prices are exploding. Before the summer, Dermagne ordered the FPS Economy to monitor prices on a monthly basis. Belgium is roughly at the same level as the Netherlands, he said when presenting the results on Tuesday.
The FPS experts focused on the prices of bread, flour, pasta, milk, beef, pork, sausages, cheese and sugar. According to Dermagne, no particularities were found in Belgian food prices. France, Germany and the Netherlands are in the same boat. The increase in these countries since the beginning of 2022 is highest in Germany and lowest in France, with Belgium and the Netherlands at about the same level in between. Meat and sugar prices have risen even less than in neighbouring countries.
'Greedflation'
A recent study by consumer organisation Testaankoop, presented in August, showed that supermarket products in Belgium are becoming more expensive at a slower rate than before, but that prices are still rising. Given that commodity and energy prices on the international market had been falling for several months, the organisation questioned the continued price increases in supermarkets.
Testaankoop reiterated its call for further investigation into the possible existence of "greedflation" in supermarkets. The term is used to describe the practice of companies raising prices in order to increase their profits disproportionately. In a context of high inflation, fuelled by rising energy prices, price rises in supermarkets and other shops became widely accepted by consumers.
(BRV)
Economy minister Pierre-Yves Dermagne © BELGA PHOTO NICOLAS MAETERLINCK
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