Luxembourg Inflation Eases To 2.3%

(RTTNews) - Consumer price inflation in Luxembourg eased in May from a 4-month high in the previous month, data from the statistical office showed on Wednesday.

The consumer price index rose 2.3 percent year-on-year in May, slower than the 3.1 percent increase in April.

Inflation based on food and non-alcoholic beverages eased to 2.0 percent from 2.4 percent, and that on housing and utilities softened to 3.3 percent from 4.4 percent. Similarly, services inflation slowed to 1.3 percent from 2.3 percent.

Energy prices continued to increase sharply by 16.1 percent from last year, while they dropped 2.5 percent compared to April. The annual price growth in transportation slowed to 5.9 percent from 6.3 percent.

Excluding energy, consumer price inflation was 1.2 percent versus 1.9 percent in April.

On a monthly basis, consumer prices decreased 0.2 percent, reversing a 1.2 percent increase in the prior month.