Latest reading: Inflation eased to 1.5% in May, below April’s 2.0%. May’s figure marked the weakest inflation rate since March...
Inflation in Luxembourg
In the year 2024, the inflation in Luxembourg was 2.25%, compared to 0.70% in 2014 and 2.92% in 2023. It averaged 2.13% over the last decade. For more inflation information, visit our dedicated page.
Luxembourg Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Luxembourg from 2014 to 2024.
Source: Macrobond.
Luxembourg Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 0.0 | 3.5 | 8.2 | 2.9 | 2.3 |
| Inflation (HICP, ann. var. %, eop) | -0.3 | 5.4 | 6.2 | 3.2 | 1.6 |
| Inflation (PPI, ann. var. %, aop) | -1.9 | -2.3 | 32.0 | 2.2 | -7.3 |
Harmonized inflation increases in April
Latest reading: Harmonized inflation edged up to 1.7% in April from March’s 1.5%, remaining below the ECB’s 2.0% inflation target for the third consecutive month. The increase was chiefly driven by stronger price pressures for food and non-alcoholic beverages. On the flipside, transportation prices declined at a steeper pace amid lower fuel costs. Annual average harmonized inflation edged down to 1.9% in April (March: 2.0%). Meanwhile, consumer price inflation rose to 1.7% in April from the previous month’s 1.3%. Lastly, harmonized consumer prices increased 0.62% over the previous month in April, swinging from the 0.14% drop seen in March.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Luxembourg inflation projections for the next ten years from a panel of 9 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Luxembourg inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Luxembourg inflation projections.
Want to get access to the full dataset of Luxembourg inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Taiwan: Inflation declines to lowest level since March 2021 in May -
Mexico: Inflation comes in at highest level since November 2024 in May Latest reading: Inflation came in at 4.4% in May, up from April’s 3.9%. May’s result represented the highest inflation rate... -
Ukraine: Inflation hits over two-year high in May Latest reading: Inflation came in at 15.9% in May, which was up from April’s 15.1% and was the highest one... -
Indonesia: Inflation moderates in May Latest reading: Inflation inched down to 1.6% in May, following April’s 1.9% and approaching the floor of the Central Bank’s... -
Thailand: Consumer prices drop further in May Latest reading: Consumer prices decreased 0.6% year on year in May, following April’s 0.2% fall. May’s reading represented the largest... -
Dominican Republic: Inflation increases to over one-year high in May Latest reading: Inflation rose to 3.8% in May from April’s 3.7%. May’s figure represented the highest inflation rate since November... -
Philippines: Inflation inches down in May Latest reading: Inflation came in at 1.3% in May, which was down from April’s 1.4%. May’s result represented the weakest...