Belgium's inflation rate fell to 2.01% in May 2025, down from 2.55% in April and 2.91% in March, according to new data released by Statbel, the Belgian statistical office. While this signals a general easing in consumer prices, key categories relevant to the interiors and furnishings sector, such as rents, services, and specific consumer goods, present a more nuanced picture.
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The consumer price index dropped by 0.21 points (or 0.16%) to 134.23 in May. Core inflation, which excludes volatile energy and unprocessed food prices, also declined to 2.59%, from 2.82% the previous month. The health index, another benchmark tied to wage and benefit adjustments, fell from 134.77 to 134.54 points.
Statbel noted: 'The most significant price increases in May were registered for meat, private rents, hotel rooms, mobile telephone services, clothing and veterinarians. However, natural gas, electricity, plane tickets, holiday villages and camping sites have had a decreasing effect on the index.'
For the interiors industry, which often tracks rental and energy trends as leading indicators for consumer spending behaviour, this data offers both caution and opportunity. Rents, which contribute directly to housing costs and indirectly to furnishings demand, increased by 0.7% on average. Inflation for rents rose from 3.51% to 3.60%, a sign that demand for residential space remains stable, possibly supporting continued spending on interior upgrades.
Furniture makers and home accessories brands might also note with interest that 'Inflation for services has declined to 3.65% from 3.96%', which may relieve pressure on logistics, installation, and other service-related costs. However, some product segments experienced notable price shifts that could affect sourcing decisions. Jewellery (+15.8%), chocolate (+11.9%), and other lifestyle goods all saw double-digit inflation, potentially impacting premium giftware and home décor categories.
On the flip side, electronics, a major component of smart home and connected living products, continued to see price drops. Televisions were down by 18.4% year-on-year, smartphones by 14.7%, and computers by 10.5%, offering consumers more affordable access to technology-led interiors.
Energy prices declined notably in May, with natural gas dropping by 6.2% and electricity by 4.0% month-on-month. This trend could improve margins for manufacturers and help ease household budgets. Statbel noted, 'Energy inflation goes from 0.95% in April to -1.10% in May and accounts for -0.19 percentage points to total inflation.'
As the harmonised European HICP inflation estimate came in at 2.8%, slightly above the national figure, it suggests that Belgium may be experiencing milder inflationary pressures compared to some of its EU neighbours, providing cautious optimism for retailers and interior design professionals navigating a still-volatile pricing landscape.
For those shaping the future of living spaces, the May data reinforces the importance of agility in pricing, sourcing, and trend forecasting, as households adjust spending habits amid evolving macroeconomic signals.
More information:
Statbel
www.statbel.fgov.be