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Wages in LuxembourgIndexing will not be for February
LUXEMBOURG – Employees in the Grand Duchy will not see their salaries increase by 2.5% in February: the annual inflation rate is down from 5.9% to 5.4%.
Between November and December 2022, consumer prices fell by 0.6%. The inflation rate fell from 5.9% to 5.4%. While the workers thought they would see their wages increase by 2.5% in February, it will therefore not be the case in the end. For a few tenths of points. 8.8 exactly. At the beginning of January, the half-yearly average of the index was 963.76 points ( once morest 963.34 points at the beginning of December) and the next indexation will only be triggered at 964.64.
A decline linked to the drop in fuel prices: in December motorists paid 11.5% less respectively for a liter of diesel and 12.3% less for a liter of gasoline. The prices of black gold derivatives are however 15.8% higher compared to December 2021.
Two indexations in quick succession?
Also contributing to this reduction is the free non-formal education and canteen. Alcoholic beverages are also less expensive (holidays require) and posted a decline of 0.9%. The prices of food products continued to increase (+0.5%). The biggest increases are seen for fresh vegetables (+5.1%), fresh fish (+4.8%), baby food (+2.7%) and breakfast cereals (+2. 2%). Conversely, fresh fruit is less expensive (-2.4%), as are bread (-0.5%) and pork (-1.4%). The amount of the races is however 11% higher compared to December 2021.
Will indexation fall in March when an index tranche is already scheduled for April (postponed from April 2022)? Note that Statec is planning another one perhaps at the end of 2023 or the beginning of 2024.
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(mc)
