Luxembourg consumers paid 3.7% more for electricity in January compared to December 2017 Pexels

Luxembourg consumers paid 3.7% more for electricity in January compared to December 2017 Pexels

According to figures published by Statec on Friday, energy costs weren’t the only thing to go up. The cost of diesel rose 2.2% from December 2017 to January 2018, and petrol rose 1.0%, while heating fuel went up 3.8% and gas increased by 2.2%. Food costs showed more moderate monthly growth in costs (0.6%), but compared to January 2017, consumers will have paid 1.9% more. Despite these trends, overall annual inflation fell 0.9% from December to January.

This drop was driven largely by a 13.4% decline in medical service costs. It was also significantly reduced by sale-driven discounts which brought the cost of clothing and shoes down by 15.3%. Despite the sales, compared to the costs in January 2017, clothing and shoes were, however, 0.9% more expensive in January 2018.

Annual inflation stood at 1.4%, compared with 1.7% in 2017. It is expected to reach 1.8% in 2019, according to the report, while Statec forecast a new indexation of earnings between the third and fourth quarters of 2018, and a second one before the end of 2019.