Luxembourg: Inflation comes in at highest level since September 2008 in May
Harmonized consumer prices increased 0.29% in May over the previous month, accelerating from the 0.05% rise logged in April. Looking at the details of the release, housing and utilities prices rose at a quicker pace in May compared to the previous month and price pressures for transportation picked up pace.
Inflation came in at 4.0% in May, up from April’s 3.3%. May’s result represented the highest inflation rate since September 2008. Annual average inflation ticked up to 1.1% in May (April: 0.9%). Lastly, inflation rose to 2.5% in May, from April’s 2.1%.