In March 2025, Belgium's annual inflation dropped to 2.91%, marking the first time it has fallen below 3% since August 2024.

This decline in inflation reflects a decrease from 3.55% in February and 4.08% in January 2025, although it still exceeds the European Central Bank's target of 2%.

Core inflation, which excludes unprocessed food and energy, decreased from 3.10% in February to 2.71% in March.

However, when excluding energy, inflation in March rose to 2.57%, up from 2.29% in February.

Year-on-year, there were significant price drops in various categories, including mobile phones (-20.5%), smartphones (-13.4%), televisions (-12.9%), and computers (-11.1%).

Conversely, some prices saw substantial increases, particularly for cigarettes (+27.2%), other tobacco products (+23%), natural gas (+25.4%), household services (+22.6%), and electricity (+20.2%).

Notable decreases in March included fuel prices (-3.9%), clothing (-3.3%), airline tickets (-11.5%), hotel rooms (-4.5%), and flowers and plants (-6.5%).

On a monthly basis, there were increases in prices for fruit (+5.6%), confectionery (+4.3%), holiday village stays (+5.8%), natural gas (+0.9%), city trips (+1.4%), and bread and cereals (+1.0%).