Credit: STATEC
According to Luxembourg's statistical institute, STATEC, the annual rate of inflation in the Grand Duchy has risen from 3.6% to 4.5% over one month.
In November 2021, the national consumer price index, calculated by STATEC, climbed 0.7% compared to the previous month. This development is mainly explained by rising fuel costs, which increased by 6.4% over one month. Prices excluding petroleum products rose by 0.3%.
Petroleum products
Petroleum product prices rose by 6.4% compared to the previous month, a development attributed to rising energy prices worldwide. The cost of heating oil rose by 3.0% over one month, whilst that of town gas (coal gas) increased by 16.7%. At the pump, motorists paid 2.5% more for a litre of diesel and 5.2% more for a litre of petrol compared to the month before. Over one year, the price of petroleum products increased by 60.0%.
Other products and services
Food prices increased by 0.4% over one month. The most significant increases were recorded for flour (up 3.5%), fresh fish (up 2.2%) and bread (up 2.0%), whilst price drops were recorded for fresh seafood (down 3.9%), potatoes (down 1.9%) and dried, salted or smoked meat (down 0.8%). The price of non-alcoholic beverages fell by 0.5% and that of mineral water dropped by 2.3%. Over one year, food prices were 1.4% higher.
Due to the Black Friday sales in November, the price of household appliances such as washing machines, tumble dryers and dishwashers fell by 1.9% compared to October. The price of televisions dropped by 2.4% over one month.
Regarding services, the cost of sending a child to a crèche rose by 2.1%, whilst hair and beauty salon prices increased by 0.5% over one month. Package holiday prices fell by 5.6%, whilst flight prices rose by 3.8% compared to October. Over one year, flights were 25.3% more expensive.
The annual inflation rate stood at 4.5% in November 2021, up from 3.6% the month before. The general index for the month of November expressed in base 100 in 2015 was 111.18 points.
