Latest reading: Inflation dipped to 1.1% in June, down from May’s 1.2% and representing the lowest inflation rate in over...
Inflation in Luxembourg
Harmonized consumer price inflation averaged 2.1% in the ten years to 2024. The 2024 average figure was 2.3%. For more inflation information, visit our dedicated page.
Luxembourg Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Luxembourg from 2014 to 2024.
Source: Macrobond.
Luxembourg Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 1.6 | 0.0 | 3.5 | 8.2 | 2.9 |
| Inflation (HICP, ann. var. %, eop) | 1.8 | -0.3 | 5.4 | 6.2 | 3.2 |
| Inflation (PPI, ann. var. %, aop) | -1.9 | -1.9 | -2.3 | 32.0 | 2.2 |
Harmonized inflation rises in June
Latest reading: Harmonized inflation increased to 2.4% in June from May’s 2.1%, marking the highest inflation rate since July 2024. Looking at the details of the release, prices for food, recreation plus housing and utilities rose at a faster rate. Moreover, transportation costs declined at a milder pace. The trend pointed down slightly, with annual average harmonized inflation coming in at 1.7% in June (May: 1.8%). Meanwhile, consumer price inflation ticked up to 2.2% in June from the previous month's 2.0%. Lastly, harmonized consumer prices rose 0.27% over the previous month in June, which was below May's 0.48% rise. June's result marked the softest rise in prices since March.
Consensus Forecasts and Projections for the next ten years
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.
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