28.05.202609:30:00UTC+00Belgium Slips Into Deflation as May CPI Turns Negative Month-on-Month

Belgium’s consumer prices moved into negative territory on a month-on-month basis in May 2026, signaling a sharp cooling in inflation dynamics. The country’s CPI fell by 0.08% compared with April, according to data updated on 28 May 2026.

The move marks a notable reversal from the previous month, when prices were still rising modestly. In April 2026, Belgium’s CPI had increased by 1.47% versus March on a month-over-month basis. The May reading, therefore, suggests a sudden shift from moderate price growth to a slight decline in overall consumer prices.

The figures are based on a month-on-month comparison, meaning the latest data reflect how prices in May changed relative to April, while the April reading compared prices to March. This negative print may attract attention from policymakers and investors watching for signs of disinflation or emerging deflationary pressures in the Belgian economy.