Inflation in Luxembourg
Luxembourg - Inflation
Inflation eases in December
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.”
FocusEconomics Consensus Forecast panelists project harmonized inflation to average 2.2% in 2022. In 2023, they see harmonized inflation averaging 1.6%.
Luxembourg - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.5||0.3||1.7||1.5||1.7|
5 years of economic forecasts for more than 30 economic indicators.
Luxembourg Inflation Chart
Source: National Statistical Institute of Luxembourg.
|Exchange Rate||1.12||0.65 %||Dec 31|
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January 7, 2022
Consumer prices fell 0.08% from the previous month in December, swinging from November’s 0.66% increase.
December 20, 2021
The number of unemployed workers came in at 15,232 in November, which was down 1.2% from October’s result of 15,417.
December 13, 2021
A detailed breakdown confirmed that GDP growth slowed to 5.3% year-on-year in the third quarter, down from the second quarter’s 12.6% increase.
December 8, 2021
Consumer prices rose 0.66% from the previous month in November, a smaller increase than October's 0.90% increase.
November 30, 2021
Economic growth eased from 12.6% year-on-year in the second quarter to 5.3% year-on-year in the third, according to a flash estimate.