Inflation decelerates in December from the prior month

Latest reading: Harmonized consumer prices increased 3.3% on a year-on-year basis in December, following a 3.6% increase in the previous month. Relative to the prior month's data, there were reduced price pressures for transportation (0.0% on a year-on-year basis vs +2.7% in November) and recreation (+2.7% vs +4.2% in November). In contrast, there were more notable price pressures for food and non-alcoholic beverages (+3.5% vs +2.8% in November), housing and utilities (+7.8% vs +7.4% in November) and restaurants and hotels (+2.8% vs +2.4% in November). Meanwhile, consumer prices were up 3.1% in annual terms in December, following a 3.0% rise in the previous month. Finally, harmonized consumer prices declined 0.16% in December in month-on-month terms, following a 0.11% increase in the prior month.

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Luxembourg inflation projections for the next ten years from a panel of 10 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Luxembourg inflation.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Luxembourg inflation projections.

Want to get access to the full dataset of Luxembourg inflation forecasts? Send an email to info@focus-economics.com.