Credit: STATEC
The annual rate of inflation in Luxembourg has fallen from 0.7% to 0.4%, according to STATEC.
In November 2020, the national consumer price index, calculated by STATEC, dropped 0.2% compared to the previous month.
This decrease is explained by a price drop for petroleum products (down 1.2% over one month) and for package holidays (down 8.7%) in November. Similarly, airline tickets dropped 0.4% compared to October 2020.
Following a rebound in October, the price of petroleum products fell 1.2% last month. Heating oil prices dropped 2.3%. At the pump, motorists had to pay 3.9% less for a litre of petrol but 0.7% more for a litre of Diesel compared to the previous month.
Food prices went up 0.2% over one month. On the one hand, the price of the following food products increased: jam and honey (up 3.8%), pizza and quiches (up 2.6%), dairy products (up 0.5%) and fresh vegetables (up 0.5%). On the other hand, the following products witnessed price drops last month: fresh seafood (down 3.8%), fresh fish (down 1.1%) and fresh fruit (down 0.3%).
The annual inflation rate thus fell from 0.7% in October to 0.4% in November 2020. Headline inflation dropped from 1.6% to 1.4%. The general index for the month of November expressed in base 100 in 2015 amounted to 106.37 points.
