Annual inflation rate rises from 2.7% to 3.0%

In November 2025, the national consumer price index, calculated by STATEC, recorded a monthly decrease of 0.2%. This change can be explained by the sharp decline in travel costs.

After a slight decrease in October, the aggregate price of petroleum products rose again in November, increasing by 2.9%. This increase is mainly due to the rise in the price of heating oil, which rose by 8.5% in one month. Filling up at the pump is becoming more expensive for motorists: compared to October, prices rose by 5.0% for diesel and 1.6% for petrol. On the other hand, town gas prices fell by 1.6% over the month. Compared to November last year, petroleum product prices are 12.2% higher.

On the downward side, the overall result is influenced by a seasonal variation related to package holidays. Travellers are paying 11.8% less for their holidays than a month earlier. Airfares are down by an average of 11.1% compared with October. Compared to November 2024, airfares are 12.7% higher, while package holidays are 13.9% higher. In addition, the change in services is impacted by the seasonal decrease in nursery and childcare centre fees of 8.9% compared to the previous month. Price increases for services were noted for catering (+0.4%). The aggregate for services rose by 2.6% over one year.

Food prices fell by 0.1% compared with October. The most significant decreases were for fresh fruit (-3.5%), dried meat (-0.8%) and olive oil (-1.3%). Conversely, some products saw price increases, notably beef and veal (+2.2%), pork (+4.3%) and fresh vegetables (+1.3%). Decreases were also recorded for spirits and liqueurs (-5.0%). Compared to November of the previous year, food prices rose by 2.6% overall.

Price decreases were also recorded for televisions (-3.0%), games and hobbies (-5.1%), fiction books (-1.7%) and women's shoes (-8.5%).

The annual inflation rate rose from 2.7% to 3.0% in November. The annual core inflation rate also rose, reaching 2.6% in November. The general index for November, expressed on a base of 100 in 2015, stood at 126.04 points. The half-yearly average of the index linked to the base date of 1 January 1948 rose from 1035.62 to 1036.14 points. The next wage indexation will be triggered when the value of 1038.79 is reached.

CHART 1: MAIN MONTHLY CONTRIBUTIONS (IN PERCENTAGE POINTS)

Source: STATEC

Note: The positions shown in the graphs are those that had the greatest influence on the monthly change in the overall index. These contributions result from monthly price changes as well as the weight of each position within the basket of goods and services. The sum of the individual contributions of all positions in the basket corresponds to the monthly change in the overall index.

TABLE 1: RATE OF CHANGE (IN %)

Source: STATEC

The results of the index for December 2025 will be published on 7 January 2026, following the monthly meeting of the Index Commission. A preliminary estimate of the annual inflation rate will be published on 31 December 2025.