Luxtoday

Inflation has dropped to 4.8% in January

Last time updated
16.02.23
Inflation has dropped to 4.8% in January

In January the inflation score was lower than in December 2022: 4.8% compared to 5.4%, respectively. This was mainly due to large discounts for goods during holiday sales.

The main reductions were in clothing and footwear: on average, they lost 11.5% of their prices. Slightly less noticeable changes in the sector of home appliances and electronics. However, prices will soon return to normal.

On the other hand, grocery prices have beaten the record of 1995. The average increase was 1.9%. Fresh fish (+11.0%), butter (+4.3%), fresh vegetables (+3.0%), fresh fruit (+2.2%), and meats (+1.2%) were the most expensive to buy.

Inflation was also influenced in the short term by the change in VAT rates. Almost all of the VAT rates have lost 1%.

Last time updated
16.02.23

Source: Chronicle

Authors: Daria

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