Consumer prices in February: Annual inflation set at 6.6% (5.5% excluding sales)

Following the monthly decline in January due to the winter sales, the national consumer price index, calculated by STATEC, recovered by 2.2% in February 2022. By neutralizing the effect of the return of sales, the index increased by 1.1% compared to the previous month. This movement is mainly explained by an increase in the price of oil products.

The annual inflation rate is increasing to reach 6.6% in February. This increase in the annual rate give a distorted picture of reality and is explained by a base effect following the shift in the 2021 winter sales period, which were included into the February 2021 results. By neutralizing the effect due to the shift in sales from 2021, the annual rate is 5.5% in February.