Luxembourg Inflation August 2021

Luxembourg

Luxembourg: Inflation accelerates in August

September 8, 2021

Harmonized consumer prices rose 1.07% month-on-month in August, swinging from the 0.39% drop recorded in the prior month. The print was influenced by the end of seasonal discounts as well as rising food prices and an increase in the price levels of furnishings, household equipment and routine household maintenance, and recreation and culture.

Harmonized inflation rose to a three-month high of 3.5% in August from 3.3% in July, with annual average harmonized inflation rising to 1.6% in the month from 1.3% in the prior month. Lastly, consumer price inflation rose to 2.5% in August from 2.3% from July.

FocusEconomics Consensus Forecast panelists project harmonized inflation to average 2.6% in 2021, which is up 0.2 percentage points from last month’s estimate. In 2022, they see harmonized inflation averaging 1.8%.


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Luxembourg Inflation August 2021

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


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