The savings rate across Europe is on the rise, and Luxembourg residents continue to rank among the most provident savers in the EU.

According to a recent Statec report, Europeans managed to save an average of 15.6% of their gross income in the first half of the year, despite inflation and rising credit costs. "The rise in the savings rate concerns almost all Member States of the eurozone," Statec noted.

Luxembourg’s residents are no exception. In 2023, they saved 18% of their income, maintaining a stable savings habit since 2021, even during the inflation crisis. While data for 2024 is yet to be published, Luxembourg consistently remains among the top countries in Europe for saving.

The country also benefits from positive inflation trends. In October, inflation dropped to 1%, the lowest level since 2021. This slowdown has had a direct impact: the next wage indexation, initially expected sooner, has been postponed to early 2025, thanks to a stabilisation in price increases.