Cityscape in Luxembourg

Luxembourg Inflation

Luxembourg Inflation

Inflation in Luxembourg

Harmonized consumer price inflation averaged 2.0% in the ten years to 2022, above the Euro Area regional average of 1.8%. The 2022 average figure was 8.2%. 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 2023.
Source: STATEC.

Luxembourg Inflation Data

2018 2019 2020 2021 2022
Inflation (HICP, ann. var. %, aop) 2.0 1.6 0.0 3.5 8.2
Inflation (HICP, ann. var. %, eop) 1.9 1.8 -0.3 5.4 6.2
Inflation (PPI, ann. var. %, aop) 4.6 -1.9 -1.9 11.3 25.6

Harmonized inflation increases in December

Harmonized inflation increased to 3.2% in December, above both November’s 2.1% and the Euro area average of 2.9%. Looking at the details of the release, housing and utilities prices rose at a quicker pace in December compared to the previous month, while price pressures for transportation remained weak. The trend pointed down, with annual average harmonized inflation coming in at 2.9% in December (November: 3.2%). Meanwhile, consumer price inflation rose to 3.5% in December, from November’s 3.0%. Finally, harmonized consumer prices dropped 0.41% in December over the previous month, a softer decrease than the 0.61% drop recorded in November.

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 8 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

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest