Luxembourg consumers paid 3.7% more for electricity in January compared to December 2017
Luxembourg consumers paid 3.7% more for electricity in January, a rise which was not as marked as the 17% announced by Luxembourg regulator the ILR.
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.