Inflation Luxembourg 2024
Average inflation: 2.1%
Current Inflation
Inflation is normal at 2.1%, around the ECB target.
Peak and Trough
The highest inflation was in January at 3.4%. The lowest inflation was in November at 0.8%.
- Highest month
- January: 3.4%
- Lowest month
- November: 0.8%
- Difference
- 2.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Alcoholic beverages, tobacco and narcotics with an average of 4.3%. The lowest price increase was in Housing, water, electricity, gas and other fuels with an average of 0.5%.
- Highest increase
- Alcoholic beverages, tobacco and narcotics: 4.3%
- Lowest increase
- Housing, water, electricity, gas and other fuels: 0.5%
Historical Context
Current inflation is 1.0% lower than the 5-year average of 3.1%.
- 5-year average
- 3.1%
- 10-year average
- 2.1%
- All-time high (2022)
- 6.4%
- All-time low (2016)
- 0.3%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +1.6 percentage point.
- Change vs. previous year
- -1.6 percentage points
- Largest monthly swing
- September: -2.8 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 3.4% | -1.4 |
| February | 3.2% | -1.1 |
| March | 3.1% | -0.5 |
| April | 2.4% | -1.3 |
| May | 2.6% | -1.0 |
| June | 2.2% | -1.0 |
| July | 2.0% | -1.7 |
| August | 1.7% | -2.5 |
| September | 1.3% | -2.8 |
| October | 1.0% | -2.2 |
| November | 0.8% | -2.2 |
| December | 1.0% | -2.5 |
| Average | 2.1% |
Data source
Data from OECD. Last updated: 11/01/2026.