STATEC has revealed that the rate of inflation in Luxembourg has increased during the month of October 2016 at 0.5%.
As well as a slowly increasing annual inflation rate, currently at 0.5%, the index for national consumption prices, as calculated by STATEC, is lagging with a monthly rate of -0.03%. Meanwhile, the price of most products has fallen by 0.15%, although petrol prices have increased by 2.4%, compared to the previous month.
The decrease in the prices of goods and services, excluding petrol, compared to September 2016, has specifically affected package deals holidays, which are now 3.7% cheaper. Compared to last year, these are still 0.7% higher in price. Moreover, there has been a decrease in the prices of certain foods and drinks, such as fresh fruits, poultry, fish products, soda, lemonade, wine, spirits and liquors.
These decreases are partially compensated by increased furniture prices, brought in by the introduction of new collections in shops; this has witnessed an increase of 1.0%. Further increases have been found in the price of newspapers (+1.0%) and car repair services (+0.2%).
Photo by STATEC.
