Inflation hits 7% on higher wages and fuel prices
Luxembourg's annual inflation rate hit 7% in April, up from 6.1% the previous month, as fuel prices kept rising and a national cost-of-living wage increase kicked in, the country's statistics agency said on Wednesday.
The estimate differs from the calculation of the EU's statistics agency. Prices facing Luxembourg shoppers rose by an estimated 9% in April, the Luxembourg-based Eurostat said last week. Consumer prices in the euro-zone were up 7.5% from a year earlier in April, Eurostat reported.
Statec said consumer prices jumped by o.8% between March and April, driven by fuel prices. Compared to April 2021, fuel prices were up by close to 60%, the statistics agency said.
Outside of fuel, wage indexation, through which salaries are adjusted to rising or falling prices, kicked in last month and increased salaries and labour costs along with them, Statec said. Food prices also were up by 1.3% compared to March, Statec said.