Annual inflation rate rises from 3.0% to 3.1%

Inflation rose slightly in December 2025. According to STATEC calculations, the annual rate increased compared to November, driven by higher prices for services.

Inflation rose slightly in December 2025. According to STATEC calculations, the annual rate increased compared to November, driven by higher prices for services.

Services rose by 0.7% over one month and posted an annual rate of +2.7%. In December, nursery fees rose by 7.6% compared to November (+9.5% over one year). Airfares rose by 21.6% over one month (+9.1% over one year), while package holidays rose by +6.0% over one month (+4.8% over one year). These monthly seasonal effects are the result of strong demand during the end-of-year holidays.

Petroleum products posted a monthly decline of 4.8% in December. This decline is mainly due to the fall in the price of heating oil, which lost 8.6% in one month. Petrol is cheaper for motorists: compared to November, prices fell by 5.1% for diesel and 3.9% for petrol. Gas prices continued to fall in December (-2.5%), but remained significantly higher than a year ago (+25.4%). Despite these declines, the aggregate price of petroleum products was up 5.7% compared to the previous year. 

Food prices rose by 3.3% compared to December 2024. The sharpest annual increases were recorded for beef and veal (+14.1%), chocolate (+13.7%) and coffee (+15.1%). In December 2025, the largest month-on-month increases were observed for fresh fish (+4.4%) and coffee (+2.1%), while prices for rice (-2.1%) and pizzas and quiches (-2.1%) fell compared to November.

A monthly decrease with a visible impact on the overall index for December was seen in alcoholic beverages, whose prices fell by 1.6% compared to November. The prices of spirits and liqueurs (-3.8%), wine (-2.5%, including sparkling wine) and fortified wine (-4.1%) fell due to promotional offers for the festive season. Year-on-year, alcoholic beverage prices are down 0.6%.

The annual inflation rate rose from 3.0% to 3.1% in December. The annual core inflation rate rose from 2.6% to 2.9% in December. In January 2026, the annual inflation rate is expected to be reduced by about half, mainly due to the government's contribution to electricity network usage tariffs (the price of electricity is expected to fall by about 10% in January 2026).

The general index for December, expressed on a base of 100 in 2015, stands at 126.18 points. The next indexation will be triggered when the value of 1038.79 is reached.
 

Update of the HICP and the CPI from 2026 onwards
 

From January 2026, the Harmonised Index of Consumer Prices (HICP) and the National Index of Consumer Prices (NICP) will be based on a new classification, known as ECOICOP v2. This update introduces several changes:

        ·         Gambling will be included in the consumer price index for the first time in the ‘Recreation’ division (Delegated Regulation (EU) 2024/3159).

        ·         The ‘Miscellaneous goods and services’ division will be split into ‘Insurance and financial services’ and "Personal care, social protection and miscellaneous goods and services ".

        ·         Several reclassifications will be made in the ‘Recreation, entertainment and culture’ and ‘Information and communication equipment’ divisions.

        ·         In 2026, a new reference year will be introduced: the HICP and the CPI will be published on a 2025=100 basis.

        ·         The weighting of the basket of goods and services will be updated to take account of changes in household consumption patterns.

STATEC will provide details of these changes when it publishes the inflation figures for January 2026, scheduled for 9 February.
 

January 2026 index results will be published on 9 February 2026, following the monthly meeting of the Index Commission. A preliminary estimate of the annual inflation rate will be published on 30 January 2026.