Figures published by STATEC on Friday 17 February show Luxembourg’s inflation rate jumped to 1.7% for the month of January while the consumer price index dropped 0.6%, a seasonal fall attributed to winter sales.
Prices for goods and services not including petrol products rose 0.3%, while the petroleum products index rose by 3.4% against December. The report said that households will see increasing bills for heating their homes, with expected increases of 4.4% for city gas and 3.9% for filling a tank of oil. Heating oil has seen a significant jump, with one litre worth 44.1% more than a year ago. At the pump, motorists can expect to see a 3% increase on a full tank of petrol, and 2.3% to fill up with diesel.
Food prices saw a 1.1% increase against December, and consumers can expect to see further price increases in their shopping basket, especially for fresh vegetables, poultry and meat.
The price of airline tickets dropped 24.4% for December, representing the seasonal travel peak and increased competition for certain destinations according to the report.
The report said that mobile telephony services and electricity tariffs had a moderating effect on inflation at the beginning of the year.
The annual rate of inflation jumped from 1.1% to 1.7% between December and January, while the underlying inflation rate was also on an upward path and rose from 1% to 1.2% over the same period. The general index for January is 100.39 base points. The half-yearly average of the index connected to base 1.1.1948 increases from 832.31 to 833.47 points, the next indexation will be triggered when the value of 852.63 is reached or exceeded.
