The latest Statec report shows inflation is now at 3.9%, which is higher than the forecasts released at the start of the year.
In addition, consumer prices rose by 0.9% in April alone in the Grand Duchy.
The next indexation should help to ease the rise in prices to 2.5% in 2024.
Although petrol prices have dropped over the past month, inflation remains high, in part due to consistently high energy prices and expensive raw materials required in agricultural and industrial sectors.
As the majority of groceries in the Grand Duchy are imported, inflation for food prices alone sits at around 11%. Continuing the uninterrupted upward trend since October 2021, items such as breakfast cereals have gone up by 4.3%, while yoghurt and fresh fruit have increased by 2.5% and 1.6% respectively.
Price increases were also noted in the restaurant sector (+0.6%) and home insurance (+3.2%).
