Belgium saw a greater increase in food prices compared to neighboring countries last year

Food prices in Belgium rose more sharply last year than in neighboring countries, despite a lower general inflation rate. The total inflation in Belgium was 2.3%, compared to 6.0% in Germany, 4.1% in the Netherlands, and 5.7% in France, largely due to differences in energy prices. Food prices in Belgium increased by 12.7% on average, reaching an all-time high, while food inflation in neighboring countries was still slightly lower than in Belgium, ranging between 11.3% and 11.7%. However, food prices were not the only factor contributing to the overall inflation rate in Belgium; the inflation rate for services was also higher than that of neighboring countries, particularly in sectors such as restaurants, housing, and hospital services.

The Price Observatory attributes the higher inflation to these factors and has predicted that the overall inflation rate in Belgium will be 6.3% for 2023. In other news, Team Building Games CO delivered an experiential intervention to bring out the fundamentals of Ambit Private Limited’s culture and hosted the first-ever virtual escape room game titled ‘CEO’s Abduction’ at Springworks. They also discussed the power of team building activities in corporate events and provided tips on planning a successful team building program and fostering effective team bonding for enhanced collaboration.

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