Vegetables were 3.86% less expensive in October 2019 than they were in October 2018, Statec said this week
The annualised inflation rate declined from 1.3% to 1.1% in October, mainly driven by decreases in petroleum product prices.
That’s according to data released by Statec, Luxembourg’s statistics agency, on 6 November.
Petroleum products were 0.5%-1% cheaper last month than in September 2019 and down by 6.1% compared to October 2018.
Other price drops were recorded last month for packaged holidays and airline tickets (-4.1% compared to September 2019), telecommunications (-0.9%) and food products (-0.3%), Statec stated.
On the other hand, alcoholic beverages and cigarettes gained 0.14%, rents rose 0.5%, and newspapers and periodicals were up 1.85% month-over-month.
In a separate report, Statec forecast an inflation rate of 1.7% in 2019 and 1.6% in 2020. Nevertheless the next round of indexation--automatic rises in wages and pension payments meant to keep pace with inflation--“remains planned for before the end of 2019.”