At the beginning of the year, we announced two indexes for 2023. According to the latest Statec report released this Friday, May 5, it seems that a third index could be activated at the end of the year.
Inflation still on the rise for food, but energy prices are dropping
According to the latest Statec report, inflation in the Grand Duchy is expected to reach 3.9%, a figure that would bring forward the next indexation to the end of the current year. However, inflation is expected to slow down in 2024, according to the statistics institute.
In Luxembourg, it is now food products that are most affected by inflation, with a price increase of up to 11%. On the other hand, energy prices (gas and electricity) should fall in 2024.
A next index triggered at the end of 2023
In the first scenario considered by Statec, a new index bracket could be triggered as early as the third quarter (July or August) 2023, with a new index in the second quarter (April or May) 2024. In the alternative scenario, the 2023 index would occur during the 4th quarter of the year and there would be none in 2024.
More information in the latest report of the portal Statistiques.lu.
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