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.
Author: Hanna Andersson, Economist