Luxembourg Inflation October 2021

Luxembourg

Luxembourg: Harmonized inflation comes in at highest level since July 2008 in October

November 8, 2021

Consumer prices rose 0.90% over the previous month in October, picking up from September's 0.15% rise. The result was primarily due to rising prices for food and non-alcoholic beverages. In addition, price pressures for transportation increased at a faster pace.

Harmonized inflation came in at 5.3% in October, which was up from September’s 4.0%. October's reading represented the highest inflation rate since July 2008. Meanwhile, the trend pointed up, with annual average harmonized inflation coming in at 1.9% in October (September: 1.6%). Lastly, consumer price inflation rose to 3.6% in October, from September’s 2.7%.

FocusEconomics Consensus Forecast panelists project harmonized inflation to average 1.7% in 2022. In 2023, they see harmonized inflation averaging 1.4%.


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Luxembourg Inflation October 2021

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


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