Luxembourg Inflation April 2020

Luxembourg

Luxembourg: Harmonized consumer prices fall for first time in over three-and-a-half years

May 6, 2020

Consumer prices fell 0.1% over the previous month in April, following the 0.6% decrease logged in March. April’s decline largely reflected lower prices for housing and utilities, as well as for transport.

Inflation clocked in at 0.6% in April, down from March’s 0.9% print. Meanwhile, harmonized consumer prices fell 0.8% in April year-on-year, which contrasted March’s 0.3% increase and marked the first fall since August 2016. Lastly, annual average inflation inched down to 1.5% from the prior month’s 1.6%.

FocusEconomics Consensus Forecast panelists project harmonized inflation to average 0.3% in 2020, which is down 1 percentage points from last month’s estimate. In 2021, they see harmonized inflation averaging 1.4%.


Author:, Economist

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Luxembourg Inflation April 20 20

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


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