Credit: Statec
The annual rate of inflation in Luxembourg has dropped from 1.3% to 1.1% over the past month, according to Statec.
In October 2019, the prices of goods and services recorded by STATEC for the calculation of the national consumer price index were not particularly dynamic; several upward and downward movements offset one another. Nevertheless, the annual rate of inflation fell by 0.2%, mainly due to lower petroleum product prices (down 6.1% compared to October 2018).
Meanwhile, actual housing rents had the greatest impact on an increased monthly result: in October 2019, these rents increased by 0.5% compared to the previous month. Conversely, travel expenses contributed most to a decline in this result: package holiday and airfare prices fell 4.1% over one month. In addition, food product prices were down 0.3% over one month, with the main reductions compared to September found among vegetables (-1.4%), fish and seafood (-1.3%) and meat (-0.5%). Price increases were recorded for bread and cereals (+0.3%) and fruits (+0.2%). Despite this slowdown posted between September and October, food prices were up 0.6% year-on-year.
Whilst the annual rate of inflation is 1.1% compared to 1.3% a month earlier, the annual rate of core inflation has gained 0.1% to 1.6%. The general index for the month of October expressed in base 100 in 2015 amounted to 105.89 points. The semi-annual average of the index linked to the 1.1.1948 base increases from 872.80 to 873.50 points. The next indexing will be triggered when the value of 873.94 is reached.
