According to statistics portal STATEC, the Luxembourg annual inflation rate for the month of August 2015 was found to stand at 0.6%, indicating that the inflation rate has remained unchanged for the last four months.

Consumer prices rose in August, but STATEC reported that this was caused by the end of summer sales and was to be expected. By contrast, oil prices continue to fall. Taking into account these two considerations, prices of other goods and services were found to have increased by 0.2%.

Consumer prices were found to have risen by 1.0% in a month after having declined from the summer sales prices of July. Clothing, furniture, home decoration and certain leisure goods became more expensive after closing sales, and the prices of goods and services not subject to sales offers were reported to have increased by 0.2% in one month.

Air travel included in package holidays, retirement homes and various food products such as fish, pork, potatoes and yoghurt, were partial to this increase. However, prices for sporting and leisure services, articles of stationery and drawing, as well as spirits, liqueurs and aperitifs were found to be on the decline.

A series of falling petrol prices in August 2015 culminated in a 4.5% decrease as compared to the previous month of July. Diesel and petrol prices declined by 4.8% and 3.9%, respectively in the space of one month, whilst heating oil prices fell 10.0% in the same timeframe.

An annual comparison for fuel prices revealed petroleum products were 13.6% lower in August of this year, and the YOY price difference for heating oil stood at nearly 30%.

However, underlying inflation rates began to climb at the beginning of the year, culminating in +1.7% in August 2015. In the same month, the annual inflation rate retained the same figure as for the three previous months.

The general base index for the month of August 2005 was 122.41 points, whilst the average semi-annual index of base 1.1.1948 passed from 828.45 to 829.37 points. If the value of 831.84 points is reached, the next indexation will occur.

 

Photo by STATEC