Economy & Politics

Slight drop in prices in September

According to Statec calculations, the consumer price index fell 0.1% in June compared to the previous month. A trend that the national institute explains by the fall in the prices of travel and petroleum products.

According to Statec calculations, the consumer price index fell 0.1% in June compared to the previous month. A trend that the national institute explains by the fall in the prices of travel and petroleum products.

(ASdN) – If prices started to rise again this summer, September marked a slight slowdown. Statec thus reports, this Wednesday, of a “decline of 0.1%” in prices compared to August. According to the national statistics institute, this downward trend is mainly linked to travel prices and oil prices.

In September, getting around did not weigh too much on the finances of Luxembourg residents. The prices of package travel fell by 6.1% and plane tickets by 24.3% compared to August. A significant drop that Statec explains by “the end of school holidays”.


After Austria, it is in Luxembourg that the price of meat is the highest in the EU, according to a Eurostat study. A question of quality, but also of structural costs, according to Paul Faltz, managing director of Cobolux.


Prices at the pump are also falling. Motorists thus pay 3.9% less for a liter of diesel. Gasoline does not however follow the same pace (+ 0.6% more for a liter). Compared to September 2019, the prices of black gold derivatives have nevertheless fallen by 16.9%.

At the supermarket, however, the passage at the checkout increased slightly. Food prices increase by 0.5% on a monthly basis. However, not all products in the cart are comparable. While some are on the rise, such as fresh vegetables (+ 9.4%) and fresh fish (+ 3.9%), fresh fruits and potatoes have fallen, respectively by 0.8 and 3.4% for potatoes and 0.8% for fresh fruit. In annual comparison, food prices are 3.3% higher compared to September 2019, and 1.4% higher compared to February 2020, the last month before the appearance of covid-19 in Luxembourg.

Wage indexation will wait

On the services side, the headings of car maintenance and repairs (+ 2.5%), financial services + 1.8% and veterinary services + 12.4% pull the September index up. With the start of the school year, the prices of certain private teaching lessons have been adapted. These increase on average by 3% compared to the old tariffs.

Despite the fall in this fall, the annual inflation rate fell from 0.6% in August to 0.7%. In other words, the half-yearly average of the index is therefore fixed at 878.14 points. But we will have to wait for the next wage indexation, which will only be triggered when the value of 895.78 is reached. In other words, not before 2022, nevertheless estimated the director of Statec Serge Allegrezza in June.


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