Financial News: Luxembourg Inflation Rises To 6-month High

Luxembourg Inflation Rises To 6-month High

02/05/2025 - 08:32:00 (RTTNews)

(RTTNews) - Consumer price inflation in Luxembourg rose for the second straight month in January to the highest level in six months, data from the statistical office showed on Wednesday.

The consumer price index rose 1.9 percent year-on-year following a 1.0 percent increase in December.

Further, this was the highest inflation since July 2024, when prices had risen 2.0 percent.

Prices for housing and utilities rebounded sharply by 5.53 percent annually in January amid a 24.3 percent surge in electricity costs, and the price growth in transportation accelerated to 1.55 percent from 0.95 percent. Clothing and footwear prices grew only 0.6 percent.

On a monthly basis, consumer prices rose 0.4 percent after a 0.1 percent gain a month ago. The monthly increase was driven by a 43.9 percent jump in electricity prices.

"This rebound is mainly due to the partial lifting of the tariff shield at the beginning of 2025, corresponding to an increase of 24.6 percent compared with September 2022, the reference date for the introduction of the tariff shield," the agency said.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Iceland Central Bank Cuts Rates For Third Time (42 min(s), 32 sec(s) ago)
(RTTNews) - The Central Bank of Iceland lowered the key interest rate for a third policy session i ...Full Story»

U.S. Crude Oil Inventories Surge Much More Than Expected (01 hr(s), 20 min(s), 32 sec(s) ago)
(RTTNews) - The Energy Information Administration released a report on Wednesday showing U.S. crud ...Full Story»

U.S. Services Index Unexpectedly Indicates Modestly Slower Growth In January (01 hr(s), 37 min(s), 32 sec(s) ago)
(RTTNews) - Service sector growth in the U.S. unexpectedly slowed modestly in the month of January ...Full Story»

U.S. Trade Deficit Spikes To Over Two-Year High In December (02 hr(s), 07 min(s), 32 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Wednesday showed the U.S. trade defici ...Full Story»

Brazil Services Activity Contracts In January (02 hr(s), 33 min(s), 32 sec(s) ago)
(RTTNews) - Brazil's service sector deteriorated for the first time in sixteen months amid a r ...Full Story»

Treasury Reveals Details Of Long-Term Securities Auctions (02 hr(s), 45 min(s), 32 sec(s) ago)
(RTTNews) - The Treasury Department on Wednesday announced the details of this month's auction ...Full Story»

U.S. Private Sector Job Growth Exceeds Estimates In January (02 hr(s), 56 min(s), 32 sec(s) ago)
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment ...Full Story»

U.S. Trade Deficit Widens Significant In December As Imports Jump, Exports Plunge (03 hr(s), 22 min(s), 32 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Wednesday showed the U.S. trade defici ...Full Story»