Index committee fails to agree on inflation figure for April
Statistic agency Statbel will not be able to publish the inflation figure for April as no consensus could be reached within the index committee. It is now up to Economy minister David Clarinval to approve the index figure.
Inflation is calculated on the basis of the consumer price index. In March, inflation rose for the second month in a row, to 1.65 per cent. The Federal Planning Bureau projected that in April, driven by the war in the Middle East and rising energy prices, it would surge further to 3.16 per cent.
Statbel did, however, publish an initial estimate of April inflation on Wednesday based on the harmonised consumer price index, a different method of calculating rising prices to enable comparisons at European level. This figure stands at 4.3 per cent, almost double the 2.2 per cent recorded in March.
The index committee is made up of representatives from employers’ organisations and trade unions, as well as academics. It is responsible for approving the index figure on a monthly basis.
Bert Engelaar, chair of the ABVV trade union, blames the employers’ organisations for the impasse. “They are now suddenly casting doubt on the calculation, which has remained unchanged for quite some time, meaning that no unanimous recommendation could be reached,” he said. “We continue to stand by the current calculation.”
Employers’ organisations VBO and Unizo confirm that their delegation has not approved the figure. They see a problem in the calculation of energy prices, which rose sharply in April due to the war in the Middle East.
'Distorted picture'
The index basket therefore does not reflect what households actually pay, says Unizo chief executive Bart Buysse. "Many households still have fixed-term contracts and so do not feel that rise at all. And those on variable contracts often only see that price rise reflected months later.”
That “distorts the picture and causes the index to react faster and more sharply", he said. Automatic indexation of wages could cause a new “wage cost shock”, which would be difficult for businesses to bear.
By refusing to approve the index figure, employers wish to send a signal to the government, the VBO said. Clarinval’s cabinet has not yet issued a statement. The last time the committee failed to approve the index figure was in 2013.
© PHOTO BOGDAN HOYAUX / HANS LUCAS COLLECTION
Related news
