Luxembourg Inflation Accelerates To 1.9%

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Luxembourg’s headline inflation accelerated in January and prices rose from the previous month, driven by higher prices for oil products.

Consumer price inflation accelerated to 1.9 percent in January from 0.6 percent in the previous month, figures from the statistical office showed Wednesday.

The statistical office attributed the acceleration to the shift in the sales period, which this year will only be included in the results for February.
Without this effect, inflation was 0.4 percent.

Compared to the previous month, consumer prices rose 0.7 percent in January.
Separately, the statistical office forecast 1.7 percent inflation for this year. Price growth would be supported by the recovery in oil prices while underlying inflation would remain contained, the agency said.

Inflation is expected to rise to 1.8 percent next year, led by the economic recovery and the indexation of salaries.

The material has been provided by InstaForex Company – www.instaforex.com

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