Luxembourg Inflation February 2021

Luxembourg

Luxembourg: Harmonized consumer prices decline in annual terms in February

March 5, 2021

Consumer prices dropped 0.69% in February over the previous month, swinging from January's 0.67% rise. February's result marked the sharpest fall in prices since January 2019 and was largely driven by falling prices for food and non-alcoholic beverages.

Consumer prices fell 0.1% on an annual basis in February, which contrasted January's 1.9% increase. Accordingly, the trend pointed down mildly, with annual average inflation coming in at 0.7% in February (January: 0.8%). Meanwhile, harmonized consumer prices declined 0.5% year-on-year in February, contrasting January’s 1.1% rise.

FocusEconomics Consensus Forecast panelists project harmonized inflation to average 1.2% in 2021, which is up 0.1 percentage points from last month’s estimate. In 2022, they see harmonized inflation averaging 1.4%.


Author:, Economist

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Luxembourg Inflation February 2021

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


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