Credit: Statec

The annual inflation rate in Luxembourg has fallen to 1.0%, according to a recent Statec report.

Following a decline in January 2018 due to winter sales, the consumer price index rebounded 1.3% in February. Excluding sales, the index is up 0.2% from the previous month. Moreover, the annual rate of inflation went from 1.1% to 1.0% from January to February this year.

Nevertheless, despite a 2.0% drop from the previous month, petroleum product prices were 1.4% higher than in February 2017. The general index for the month of February expressed out of 100 in 2015 is 102.81 points.

Again, excluding sales, several increases have had an upward influence on the overall result compared to last month. These include package travel prices (+4.3%) due to carnival school holidays and those of plants and flowers (+4.6%), boosted by Valentine’s Day.

On the downside, some products from supermarkets such as fresh fish, wines, chocolate and rice have had a moderating impact on the general index.