Luxembourg: Inflation eases in December
January 7, 2022
Consumer prices fell 0.08% from the previous month in December, swinging from November’s 0.66% increase. The result was driven by falling prices for alcoholic beverages and tobacco, clothing and footwear, housing and utilities, and transport.
Consumer price inflation eased to 4.1% in December from November’s 4.5%. Meanwhile, harmonized inflation eased to 5.5% in December, down from November’s 6.3%. However, the trend pointed up, with annual average harmonized inflation coming in at 3.5% in December (November: 3.0%).
Looking to next year, analysts at the EIU added:
“We expect inflation to accelerate in 2022, to 3.7%, as supply-side pressures intensify owing to materials shortages and the Omicron variant.”