Credit: Statec
The annual rate of inflation in Luxembourg has dropped from 1.9% to 1.7% over the past month, according to Statec.
In February 2020, the national consumer price index reached 1.3%, following the monthly decline in January due to the winter sales. By neutralising the effect of the post-sales period, the index decreased 0.2% compared to the previous month.
This change was mainly attributed to a drop in petroleum product prices. Indeed, motorists had to spend on average 5.6% less per litre of diesel in February; the average price of petrol fell by 3.0%. Heating oil prices similarly fell by 11.7% last month.
