Luxembourg Inflation November 2021

Luxembourg

Luxembourg:

December 8, 2021

Consumer prices rose 0.66% from the previous month in November, a smaller increase than October's 0.90% increase. The result was driven by moderating price pressures for transportation and housing and utilities. In addition, prices for recreation and culture dropped.

Harmonized inflation came in at 6.3% in November, up from October’s 5.3%. November's result marked a record high. Meanwhile, the trend pointed up, with annual average harmonized inflation coming in at 2.2% in November (October: 1.9%). Finally, consumer price inflation rose to 4.5% in November, from October’s 3.6%.

Looking to next year, analysts at the EIU added:

“In 2022 we expect inflation to decelerate to 1.7%, on average, as supply-side pressures ease.”

FocusEconomics Consensus Forecast panelists project harmonized inflation to average 1.8% in 2022. In 2023, they see harmonized inflation averaging 1.5%.


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Luxembourg Inflation November 2021

Note: Month-on-month and year-on-year variation of consumer prices in %.
Source: Statistical Office of Luxembourg (STATEC)


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