The inflation rate in Luxembourg rose to 1.7 percent year-on-year in December 2019 from 1.2 percent in the previous month, with upward pressure coming from: transport (2.3 percent); miscellaneous goods and services (1.5 percent); housing, water, electricity, gas and other fuels (1.0 percent); food and non-alcoholic beverages (1.2 percent); furnishings, household equipment and routine household maintenance (1.3 percent); recreation and culture (3.4 percent); and restaurants and hotels (2.3 percent). On a monthly basis, consumer prices edged up 0.1 percent. Inflation Rate in Luxembourg averaged 2.13 percent from 1991 until 2019, reaching an all time high of 4.99 percent in October of 2005 and a record low of -1.35 percent in January of 1999.
Inflation Rate in Luxembourg is expected to be 1.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Luxembourg to stand at 1.60 in 12 months time. In the long-term, the Luxembourg Inflation Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.