Inflation forecast: 3.4% for 2023 and 4.8% for 2024

In Luxembourg, consumer prices have been slowing down since October 2022 under the effect of the measures of the Tripartite Agreement which will make it possible to contain inflation during 2023. STATEC maintains its inflation forecast for this year at 3.4% and anticipates an index-linked tranche in the last quarter of 2023. The lifting of tariff shields at the turn of the year would push inflation to 4.8% in 2024. This rebound would mainly result from gas and electricity tariffs that would once again reflect real purchase prices on the wholesale markets. An indexation is also foreseen in the 2nd quarter of 2024.