Page Title

Data

The FPB not only publishes the results of its research, but also a set of databases. These databases can contain either historical data or forecasts.

Consumer Price Index - Inflation forecasts [03/06/2022]

The inflation forecasts from June 2022 until the end of 2023 produced by the Federal Planning Bureau are based on observations until May 2022 from Statbel. These forecasts take into account futures of 20 May 2022. The oil price should amount to 106 dollar per barrel in 2022 and 93 dollar per barrel in 2023. The exchange rate of the euro should be 1.08 dollar per euro in 2022 and in 2023.

On the basis of these monthly inflation forecasts, average consumer price inflation should be 8.1% in 2022 and 3.5% in 2023, compared to 2.44% in 2021 and 0.74% in 2020. The average growth rate of the so-called 'health price index', which is used for the price indexation of wages, social benefits and house-rent, should be 7.6% in 2022 and 3.6% in 2023, compared to 2.01% in 2021 and 0.99% in 2020.

In April 2022, the pivotal index for the public sector was last reached. As a result, social benefits are adjusted (by 2%) to the higher cost of living in May 2022 and public wages will follow suit in June 2022. According to our monthly forecasts for the 'health price index', the pivotal index for public wages and social benefits (currently 118.36) should next be reached by the smoothed health index in September 2022. As a result, social benefits should be adjusted (by 2%) to the higher cost of living in October 2022 and public wages should follow suit in November 2022. The next pivotal index (120.73) should be reached in January 2023. As a result, social benefits should be adjusted (by 2%) to the higher cost of living in February 2023 and public wages should follow suit in March 2023. The subsequent pivotal index (123.14) should not be crossed in 2023.

Next update: 5 July 2022 at 2 p.m.

Conversion coefficients

National consumer price index

To convert an index with base year 2013 to base year 2004, the starting value has to be multiplied by 1.2240.
To convert an index with base year 2004 to base year 2013, the starting value has to be multiplied by 0.8170.

Health index

To convert an index with base year 2013 to base year 2004, the starting value has to be multiplied by 1.2077.
To convert an index with base year 2004 to base year 2013, the starting value has to be multiplied by 0.8280.

National consumer price index (2023)

2023 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Index (base year 2013) 124.87 125.28 125.46 125.43 125.52 125.38 125.80 125.91 125.53 125.98 125.97 126.05
Growth rates (%) (1) 5.54 5.22 4.82 4.45 3.73 3.41 3.53 3.43 3.32 1.50 1.47 1.41

(1) Change (%) compared to same month of previous year. Orange labels are forecasting estimations by the Federal Planning Bureau.

Health index and smoothed health index (2023)

2023 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Health index (base year 2013) 124.22 124.56 124.84 124.82 124.87 124.88 125.33 125.41 124.93 125.58 125.48 125.67
Growth rates (%) (1) 5.08 4.90 4.86 4.37 3.84 3.62 3.75 3.62 3.42 1.95 1.83 1.72
Smoothed health index (2) 121.07 121.41 121.81 122.12 122.28 122.36 122.48 122.62 122.63 122.81 122.84 122.91

(1) Change (%) compared to same month of previous year. Orange labels are forecasting estimations by the Federal Planning Bureau.
(2) Until March 2015, the smoothed health index is calculated as the four-month moving average of the health index. From April 2015 until the month preceding the month wherein the smoothed health index is exceeded by the reference index, the smoothed health index is held stable at its level of March 2015.

National consumer price index (2022)

2022 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Index (base year 2013) 118.32 119.07 119.69 120.09 121.01 121.24 121.51 121.73 121.50 124.12 124.15 124.30
Growth rates (%) (1) 7.59 8.04 8.31 8.31 8.97 8.93 8.25 7.89 7.95 8.69 7.37 7.40

(1) Change (%) compared to same month of previous year. Orange labels are forecasting estimations by the Federal Planning Bureau.

Health index and smoothed health index (2022)

2022 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Health index (base year 2013) 118.21 118.74 119.05 119.59 120.25 120.52 120.80 121.03 120.80 123.18 123.23 123.55
Growth rates (%) (1) 7.12 7.56 7.68 7.81 8.34 8.27 7.68 7.35 7.58 8.11 6.97 6.88
Smoothed health index (2) 113.42 114.60 115.54 116.52 117.02 117.46 117.88 118.24 118.37 119.02 119.62 120.24

(1) Change (%) compared to same month of previous year. Orange labels are forecasting estimations by the Federal Planning Bureau.
(2) Until March 2015, the smoothed health index is calculated as the four-month moving average of the health index. From April 2015 until the month preceding the month wherein the smoothed health index is exceeded by the reference index, the smoothed health index is held stable at its level of March 2015.

National consumer price index (2021)

2021 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Index (base year 2013) 109.97 110.21 110.51 110.88 111.05 111.30 112.25 112.83 112.55 114.20 115.63 115.74
Growth rates (%) (1) 0.26 0.46 0.89 1.23 1.46 1.63 2.27 2.73 2.86 4.16 5.64 5.71

(1) Change (%) compared to same month of previous year.

Health index and smoothed health index (2021)

2021 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Health index (base year 2013) 110.35 110.39 110.56 110.93 110.99 111.31 112.18 112.74 112.29 113.94 115.20 115.60
Growth rates (%) (1) 0.57 0.47 0.55 0.64 0.81 1.14 1.83 2.30 2.29 3.48 4.81 5.21
Smoothed health index (2) 107.86 107.93 108.09 108.35 108.50 108.73 109.13 109.57 109.89 110.53 111.27 111.97

(1) Change (%) compared to same month of previous year.
(2) Until March 2015, the smoothed health index is calculated as the four-month moving average of the health index. From April 2015 until the month preceding the month wherein the smoothed health index is exceeded by the reference index, the smoothed health index is held stable at its level of March 2015.

National consumer price index (2020)

2020 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Index (base year 2013) 109.69 109.71 109.53 109.53 109.45 109.52 109.76 109.83 109.42 109.64 109.46 109.49
Growth rates (%) (1) 1.41 1.10 0.62 0.57 0.48 0.60 0.73 0.82 0.90 0.74 0.51 0.41

(1) Change (%) compared to same month of previous year.

Health index and smoothed health index (2020)

2020 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Health index (base year 2013) 109.72 109.87 109.96 110.22 110.10 110.05 110.16 110.20 109.78 110.11 109.91 109.88
Growth rates (%) (1) 1.12 1.00 0.84 1.14 1.11 0.94 1.00 1.04 1.11 1.04 0.83 0.64
Smoothed health index (2) 107.04 107.25 107.49 107.74 107.84 107.88 107.93 107.92 107.85 107.86 107.80 107.72

(1) Change (%) compared to same month of previous year.
(2) Until March 2015, the smoothed health index is calculated as the four-month moving average of the health index. From April 2015 until the month preceding the month wherein the smoothed health index is exceeded by the reference index, the smoothed health index is held stable at its level of March 2015.

Please do not visit, its a trap for bots