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In Luxembourg: These products that weigh down your wallet

  • Post category:Economy News
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In LuxembourgThese products that weigh down your wallet

LUXEMBOURG – Still at a high level, inflation is weighing on residents’ purchasing power. But which products have increased the most?

Inflation remains at a very high level in Luxembourg due to various factors, in particular the war in Ukraine, the current weakness of the euro, etc. According to the latest figures published by Statec, the inflation rate over one year stood at 6.8% in July, compared to 7.4% in June. But in detail, some products weigh on your budget more than others. Including everyday consumer products.

This is for example the case, you will probably have all noticed it on the shelves of supermarkets, oil. According to data compiled by Statec, the “fats and oils” category saw its price increase by 15.58% over one year, in July. Another food item whose cost has exploded: meat. Its price has climbed 10.85% year-over-year. For a piece of beef, for example, count 12.88% more. As for fish and seafood, things are not much better, with an increase of 9.84%, and even 15.98% for fresh fish. Bread and cereals saw their prices rise by 9.61%, milk, cheese and eggs by 8.33%.

Pasta at +19.14%

Pasta, they see their price increase by 19.14%. By way of comparison, in July 2021, the increases over one year stood at 0.19% for fats and oils, 1.26% for meat or 1.56% for bread and cereals. We can console ourselves with a few healthy products, such as fruits, which last month saw their prices drop by 0.43% or vegetables (+ 5.23%). Still among food products, sugar, honey, chocolate, jam and other confectionery are doing well with +4.8% when the coffee, tea and cocoa budget item increases by 9.28%, especially at because of coffee alone (+11.1%).

Eating is good, but inflation does not only affect food. Shoes are 4.42% more expensive than a year ago, while clothing is up only 0.27%. The prices of home maintenance and repair products are 9.84% higher than a year ago. Furniture (+8.6%), bicycles (+12.24%) and veterinary services (+13.83%) are also experiencing significant price increases.

But the most spectacular thing, as we have already talked about, are the energy tariffs, at the heart of the three-party meeting last March and which should still be the subject of discussions, just like the index planned for the end of the yearBetween social partners next month. Indeed, the “fuels and lubricants” item exploded by 41.73%, gas by 42.56% (against 88.7% in February, the situation has improved a little), liquid fuels, the price of which doubled in June, remain up 81.86%. Finally, the thermal energy heats up by 53.91%. Nothing very encouraging to approach the start of the new school year…