Annual inflation rate up from 3.2 % to 4.2%

In August 2023, the national consumer price index calculated by STATEC rose by 1.5% on the previous month, mainly due to the end of the summer sales. Excluding petroleum products, prices of other goods and services rose by 0.3%. This triggers an index-linked increase of 2.5% in wages, salaries and pensions from September 1, 2023.
The return of prices for products on sale in July to their normal levels explains the strong monthly rise of 13.9% in the "Clothing and footwear" division. Compared with August last year, clothing prices rose by 6.6% and footwear by 6.3%. Furnishings (+2.0%) and household textiles (+2.8%) were also affected by the end of the sales period.