Luxembourg Inflation August 2022


Luxembourg: Harmonized inflation drops to lowest level since March in August

October 7, 2022

Harmonized inflation came in at 8.6% in August, which was down from July’s 9.3%. August's figure represented the weakest inflation rate since March. The result was largely due to rising prices for food and non-alcoholic beverages.

The trend pointed up, with annual average harmonized inflation coming in at 7.3% in August (July: 6.9%). Meanwhile, consumer price inflation was steady, coming in at July's 6.8% in August.

Lastly, harmonized consumer prices rose 0.42% over the previous month in August, rebounding from July's 1.33% drop.

FocusEconomics Consensus Forecast panelists project harmonized inflation to average 7.7% in 2022. In 2023, they see harmonized inflation averaging 3.4%.


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Luxembourg Inflation Chart

Luxembourg Inflation September 2022

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

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