Our colleagues at RTL 5Minutes met with Statec experts to find out when the best time is to book a holiday.

Everyone has their theories about when best to book a holiday. Advice such as 'If you use the same IP address on multiple times, plane ticket prices will rise', 'book outside of school holiday times', 'avoid peak season months,' and 'pick an unknown destination' is often bandied about.

Whilst these tips are useful, we've gone a step further by contacting Statec's experts. They claim the best time to book a holiday is at the start of the year, guidance which applies to flight tickets or package deals. The best month for booking breaks is January, but January is over now.

However, not all is lost, as flight prices remain quite low throughout February and March. As for package holidays, if this is your cup of tea, they may be pricier, but certainly a better deal than booking in August.

Speaking of August, the figures reveal all: avoid booking breaks in August at all cost, as this is when prices reach their peak. See the below graph for the evidence.

The fluctuation of flight ticket and package deal prices in Luxembourg, with averages calculated over five years. / © Statec

Another price peak regularly occurs in December, thanks to Christmas break. Nevertheless, prices are higher in June and July than at the end of the year.

And finally, even if your holiday plans for this year may be scuppered, you can always book for the next year. In this case, October is the best month for advance bookings.