LUXEMBOURG – Prices rose 6.1% year on year in Luxembourg, according to Statec. Driven by petroleum products, but also food…
Prices continue to soar, in Luxembourg as elsewhere, according to data published Friday by Statec. Thus, over one year, inflation stood at 6.1% at the end of March 2022. Over one month, prices rose by 1%. A spectacular increase linked in particular to the strong increase in petroleum products, which exploded by 8.2% over one month. Heating oil rose by 22.1% in one month, diesel by 15.4% and gasoline by 9.2%. Over one year, products derived from black gold rose by 56.9%.
Excluding petroleum products, prices increased by 0.5% between February and March. If the bill for restaurants and cafes rose by 0.5% compared to February, cars (+1%), furniture (+2.6%), hotels (+5.9%) or even the services of heating engineers (+3.6%) also cost more.
Pasta more expensive by 4.5%
And preparing meals at home is also more expensive than in February. Meat (+2.1%), pasta (+4.5%), cheese (+1.3%) and fresh fish (+3.6%) all saw their prices rise. Overall, food prices increased by 1.2% over one month and 4% over one year.
Some products are on the decline, even if that is not enough to compensate, such as fresh vegetables (-3%), wines (-1.1%) or even flowers (-9.7%), after a increase in February linked to demand for Valentine’s Day. Package tours are 1.9% cheaper.
With all of this put together, Statec confirms the index bracket that came into effect on April 1. This is not postponed and wages, pensions and allowances therefore rise by 2.5%.