Credit: STATEC
The annual rate of inflation in Luxembourg has risen from 0.4% to 0.6%, according to STATEC.
In December 2020, the national consumer price index, calculated by STATEC, went up 0.3% compared to the previous month. This increase is explained by an increase in the price of petroleum products (up 3.7% over one month) and an increase in travel costs last month.
Following a drop in November, the price of petroleum products increased by 3.7% in December 2020. Heating oil prices went up 13.5%. At the pump, motorists had to pay 4.3% more for a litre of diesel and 1.6% more for a litre of petrol compared to the previous month.
Food prices fell 0.8% over one month. On the one hand, the price of the following food products decreased: fresh vegetables (down 5.7%); fresh fruit (down 4.7%); jam and honey (down 4.4%). On the other hand, the price of breakfast cereals (up 4.0%) and poultry (up 1.6%) increased last month. Over one year, food prices rose 2.0%.
The price of alcoholic beverages fell 0.6% last month (compared to November 2020) after a price drop for wine (down 2.3%) compared to the month before.
In addition, the school holidays correlated with a 22.4% price increase for airline tickets over one month. Package holiday prices went up 6.1%.
Plants and flowers also witnessed price increases in December 2020 (up 3.9%).
The annual inflation rate thus rose from 0.4% in November to 0.6% in December 2020. Headline inflation stabilised at 1.4%. The general index for the month of December 2020 expressed in base 100 in 2015 amounted to 106.67 points.
