Fuel prices skyrocketed almost 30% from year ago

Consumers in Luxembourg have had to pay 28.9% more for fuel since April last year when Covid-induced lockdowns initially drove down the price of petrol, statistic agency Statec said on Wednesday.

Measured on a month-by-month basis, fuel prices dropped by 0.4% in April, ending four consecutive months of growth, a Statec press release said.

Overall, inflation - which measures the annual increase in prices for anything from food to rents, increased slightly to 2.1% in April, from 2% in March.

Living and transport costs went up by 4% and 5.7% respectively, while prices for communication dropped by 5% since last April, Statec found.

Property prices have exploded in Luxembourg, growing by a record 14.5% on average across the Grand Duchy during 2020, according to Statec.

This has left many families behind as the average household spends 35% of its income on shelter, a lobby group for employees said last month.

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