Luxembourg: Inflation eases in January
Consumer prices rose 0.2.18% from the previous month in February, up from January’s 0.12% decrease. The result was driven by steep increases in the prices for furnishing, household equipment and maintenance, and recreation and culture. On the other hand, food and transport prices rose at a softer pace.
Consumer price inflation jumped to 6.6% in February from 3.6% in January. Meanwhile, harmonized inflation jumped to 7.8% in February from 4.6% in January. However, the trend pointed up, with annual average harmonized inflation coming in at 4.5% in February (January: 3.8%).
Looking to next year, analysts at the EIU added:
“We expect inflation to accelerate in 2022, to 3.8%, as supply-side pressures intensify owing to materials shortages. Average inflation in 202223, at 2.8%, will be slightly higher in Luxembourg than in the euro zone (2.4%).”