Luxembourg Inflation Accelerates Further To 2.4% In August

(RTTNews) - Consumer price inflation in Luxembourg climbed for a third month in a row in August to its highest level in over a year, preliminary data from the statistical office STATEC showed on Monday.

The consumer price index rose 2.4 percent year-on-year following a 2.3 percent increase in July. Inflation was the highest since May last year, when it was 2.6 percent.

Core inflation which excludes items such as fresh food and energy was steady at 2.4 percent in August.

The CPI rose 1.3 percent month-on-month in August after a 0.5 percent decline in July. The latest increase was the strongest since February and STATEC attributed it mainly to the end of the summer sales.

Consequently, the clothing and footwear group logged an 18.9 percent monthly surge in prices. The package holiday and airline ticket prices were 6.4 percent higher.

Food prices edged up 0.1 percent from the previous month but were 2.7 percent higher from a year ago.

Prices of petroleum products decreased 1.3 percent month-on-month but were 2.1 percent higher year-on-year.