Inflation, consumer prices for Luxembourg
FPCPITOTLZGLUX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.05
Year-over-Year Change
-22.97%
Date Range
1/1/1960 - 1/1/2024
Summary
The 'Inflation, consumer prices for Luxembourg' trend measures changes in the overall price level of consumer goods and services in Luxembourg. This metric is crucial for policymakers and economists to assess the country's economic health and cost of living.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The consumer price index (CPI) for Luxembourg tracks the average change in prices paid by consumers for a basket of goods and services. It is a widely used indicator of inflation and a key input for adjusting wages, pensions, and other payments to maintain purchasing power.
Methodology
The Luxembourg CPI is calculated monthly by the national statistics agency based on a representative sample of consumer expenditures.
Historical Context
Central banks and governments closely monitor CPI trends to inform monetary and fiscal policies that promote economic stability and growth.
Key Facts
- Luxembourg's CPI reached a historic high of 7.9% in October 2022.
- Energy and food prices were the primary drivers of high inflation in Luxembourg.
- The Luxembourg government implemented measures to ease the burden of rising costs on households.
FAQs
Q: What does this economic trend measure?
A: The 'Inflation, consumer prices for Luxembourg' trend measures changes in the overall price level of consumer goods and services purchased by households in Luxembourg.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for policymakers and economists to assess the country's economic health and cost of living, and to inform monetary and fiscal policies that promote economic stability and growth.
Q: How is this data collected or calculated?
A: The Luxembourg CPI is calculated monthly by the national statistics agency based on a representative sample of consumer expenditures.
Q: How is this trend used in economic policy?
A: Central banks and governments closely monitor CPI trends to inform monetary and fiscal policies that promote economic stability and growth.
Q: Are there update delays or limitations?
A: The Luxembourg CPI data is published monthly with no significant delays, providing timely insights into inflationary pressures in the country.
Related Trends
Production, Sales, Work Started and Orders: Retail Trade Volume: Economic Activity: Retail Trade, Except of Motor Vehicles and Motorcycles for Luxembourg
LUXSLRTTO01IXOBM
Harmonized Index of Consumer Prices: Overall Index Excluding Energy for Luxembourg
00XE00LUM086NEST
Infra-Annual Labor Statistics: Monthly Unemployment Rate Female: 15 Years or over for Luxembourg
LRHUTTFELUA156N
Geographical Outreach: Number of Automated Teller Machines (ATMs), Country Wide for Luxembourg
LUXFCACNUM
Harmonized Index of Consumer Prices: Carpets and Other Floor Coverings for Luxembourg
CP0512LUM086NEST
Infra-Annual Labor Statistics: Monthly Unemployment Rate Male: From 15 to 24 Years for Luxembourg
LRHU24MALUM156N
Citation
U.S. Federal Reserve, Inflation, consumer prices for Luxembourg (FPCPITOTLZGLUX), retrieved from FRED.