Although, our neighbours France, the Netherlands and Germany are also experiencing low inflation, levels of inflation there are still higher than here in Belgium.
The Federal Economy Ministry in Brussels says that whether the low inflation rate is a good or a bad thing for consumers depends on what they spend their money on. Some products are dropping in price while others are becoming more expensive.
For example, petrol, diesel, heating oil, electricity and gas all got cheaper during 2014. Fruit and vegetables too fell in price during the course of last year. Meanwhile, the cost of fish and meat went up as did services. The price of real estate in Belgium also went up during 2014.