Consumer price inflation in Luxembourg moderated in January to the lowest level in just over a year, data from the statistical office showed on Monday.
The consumer price index rose 1.26 percent year-on-year in January, slower than the 3.06 percent increase in December. Further, this was the weakest inflation since December 2024, when prices had risen 1.03 percent.
Prices for housing and utilities fell 1.6 percent from last year, and a 3.3 percent decline in clothing and footwear prices also influenced the slowdown in inflation. Data showed that costs for food products and non-alcoholic beverages rose 2.8 percent.
On a monthly basis, consumer prices dropped 1.31 percent, reversing a 0.1 percent gain a month ago.
The statistical portal STATEC forecasts an inflation of 1.8 percent for 2026 and for 2027, considering the fact that while government measures are pushing electricity prices down in 2026, the decline in oil and gas prices on international markets is expected to keep petroleum product inflation at a low level through to the end of 2027.
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