Gulf between rich, poorwidened in past 10 years

20th January 2006, Comments 0 comments

20 January 2006, BRUSSELS — The purchasing power of consumers in Belgium has been declining for the past decade, figures indicated on Friday.

20 January 2006

BRUSSELS — The purchasing power of consumers in Belgium has been declining for the past decade, figures indicated on Friday.

Besides the general decline in purchasing power, the gulf between poor and wealthier consumers has also widened in the past 10 years.

The claims were made by the Research and Information Centre for Consumer Organisations (OIVO) said and the French-language Observatoire du Crédit et de l'Endettement (Credit and Debt Observatory).

The two organisations based their findings on a study of consumption prices over the past 10 years, newspaper 'De Standaard' reported.

The analysis indicated that prices in the past 10 years increased on average 19 percent. Basic food products and current consumer goods have experienced a higher than average price rise.

However, the price of durable consumer goods — such as electrical household goods — and certain current consumer goods such as clothing and shoes fell or only slightly rose in price.

The past decade has been characterised by a general decline in consumer purchasing power. On a quantitative level, this development affected all sectors of the population, but to a differing degree.

[Copyright Expatica News 2006]

Subject: Belgian news

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