Luxembourg's annual inflation rate rose to 1.9 percent in January of 2021 after a 0.6 percent growth in the previous month, due to a surge in clothing & footwear prices (20.7 percent vs 0.4 percent in December) as winter sales this year happened in February instead of January. Also, prices increased at a faster pace for furnishings, household equipment & routine household maintenance (2.4 percent vs 0.8 percent), and recreation & culture (3.1 percent vs 1.8 percent). Additionally, inflation eased for food & non-alcoholic beverages (1.2 percent vs 1.8 percent), and prices sunk at a softer pace for housing & utilities (-0.9 percent vs -1.1 percent) and transportation (-1.9 percent vs -2.3 percent). On a monthly basis, consumer prices went up 0.7 percent, following a 0.3 percent increase in the previous month. Inflation is expected to rise to 1.7 percent in 2021, supported by higher oil prices, and edge up to 1.8 percent in 2022. source: STATEC, Luxembourg
Inflation Rate in Luxembourg averaged 2.09 percent from 1991 until 2021, reaching an all time high of 4.99 percent in October of 2005 and a record low of -1.35 percent in January of 1999. This page provides - Luxembourg Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Luxembourg Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
Inflation Rate in Luxembourg is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Luxembourg to stand at 1.60 in 12 months time. In the long-term, the Luxembourg Inflation Rate is projected to trend around 1.60 percent in 2022 and 2.00 percent in 2023, according to our econometric models.