The sentiment of Belgian consumers towards the trend of consumer prices provides insight into how Belgians perceive the country's economy in the long run. From January 2018 to October 2023, Belgian consumers had contrasting views on the development of prices.
To calculate the sentiment towards price fluctuations, consumers have been asked to give their thoughts on the past and future developments of prices. An increase of this indicator points to unfavorable development of prices. Compared to the previous month, in October 2023, the balance stayed at 82. From January 2018 to October 2023, the most positive sentiment was recorded in January, March and July of 2023, whereas the sentiment shared by consumers in April 2020 was the most negative.
Consumer sentiment trend in consumer prices in Belgium from January 2018 to October 2023
* Contrary to the other figures, the higher the balance for the trend in consumer prices, the more negative the development is valued by the sample of interviewees.
Every month a completely different representative sample of 1,850 people is questioned about the macroeconomic situation in Belgium and their own financial position and consumer behavior. The sample is representative for the geographic, social and demographic differences in Belgium and respondents are asked to answer a qualitative questionnaire with their own assessment or expectation. The questionnaire is built around different topics: the Belgian economic situation, personal financial situation and personal attitude towards savings and consumer behavior.
Two macroeconomic questions on unemployment and the Belgian economy, and personal questions about the financial position of the household and the savings of the household are used to calculate the consumer confidence indicator. The source explains: "For each question, calculations are performed to find the percentage of all participating consumers reporting an improvement (positive responses), the percentage reporting a deterioration (negative responses) and the percentage stating that there has been no change. In calculating these three percentages, responses are not weighted and the difference between the 'positive' and 'negative' percentages constitutes the balance (the response) for the question. For example, if the number of positive responses equals the number of negative responses the balance for the question is zero; conversely, a balance of +10 means that positive responses outnumbered negative responses by ten percentage points."
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National Bank of Belgium. (October 23, 2023). Consumer sentiment trend in consumer prices in Belgium from January 2018 to October 2023 [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/531637/consumer-sentiment-trend-in-consumer-prices-in-belgium/
National Bank of Belgium. "Consumer sentiment trend in consumer prices in Belgium from January 2018 to October 2023." Chart. October 23, 2023. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/531637/consumer-sentiment-trend-in-consumer-prices-in-belgium/
National Bank of Belgium. (2023). Consumer sentiment trend in consumer prices in Belgium from January 2018 to October 2023. Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/531637/consumer-sentiment-trend-in-consumer-prices-in-belgium/
National Bank of Belgium. "Consumer Sentiment Trend in Consumer Prices in Belgium from January 2018 to October 2023." Statista, Statista Inc., 23 Oct 2023, https://www.statista.com/statistics/531637/consumer-sentiment-trend-in-consumer-prices-in-belgium/
National Bank of Belgium, Consumer sentiment trend in consumer prices in Belgium from January 2018 to October 2023 Statista, https://www.statista.com/statistics/531637/consumer-sentiment-trend-in-consumer-prices-in-belgium/ (last visited November 22, 2024)
Consumer sentiment trend in consumer prices in Belgium from January 2018 to October 2023 [Graph], National Bank of Belgium, October 23, 2023. [Online]. Available: https://www.statista.com/statistics/531637/consumer-sentiment-trend-in-consumer-prices-in-belgium/
