Luxembourg: Harmonized inflation increases in April
Latest reading: Harmonized inflation edged up to 1.7% in April from March’s 1.5%, remaining below the ECB’s 2.0% inflation target for the third consecutive month. The increase was chiefly driven by stronger price pressures for food and non-alcoholic beverages. On the flipside, transportation prices declined at a steeper pace amid lower fuel costs.
Annual average harmonized inflation edged down to 1.9% in April (March: 2.0%). Meanwhile, consumer price inflation rose to 1.7% in April from the previous month’s 1.3%.
Lastly, harmonized consumer prices increased 0.62% over the previous month in April, swinging from the 0.14% drop seen in March.