Luxembourg: Harmonized inflation comes in at six-month high in August
Harmonized inflation increased to 3.5% in August, following July’s 2.0%. August’s reading marked the highest inflation rate since February, but was markedly below the euro area’s 5.2% average. Looking at the details of the release, housing and utilities prices rose at a quicker pace in August compared to the previous month, and price pressures for transportation remained weak, although they decreased substantially less than in August.
Annual average harmonized inflation fell to 4.6% in August (July: 5.0%). Meanwhile, consumer price inflation rose to 4.2% in August, from July’s 3.7%.
Finally, harmonized consumer prices rose 1.89% from the previous month in August, swinging from July’s 0.29% fall. August’s uptick was the highest reading since March 2022.