Inflation in Austria accelerated to 4.1 percent in August

According to the final figures, Austrian inflation rose to 4.1 percent in August, in line with the preliminary estimate, the highest level since March 2024. The acceleration in inflation was significantly contributed by the fact that fuel prices did not moderate consumer price growth as much as recently; in addition, electricity prices continued to rise, said Manuela Lenk, CEO of the Austrian Statistical Office.

According to a statement from the Austrian Statistical Office, the main driver of inflation in August was the 6.1 percent increase in housing and utility prices, which was faster than the 5.7 percent increase in the previous month.

The annual rate of price increases in the catering sector, at 6.1 percent, remained well above the overall inflation rate, which was 5.8 percent a month earlier.

The price increase for food and non-alcoholic beverages was 5.2 percent, the same as in the previous month, while the price increase for alcohol and tobacco products accelerated to 3.8 percent, following a 3.6 percent increase in July. In addition, the price increase for clothing and footwear increased by 4.5 percent year-on-year, following a 0.2 percent decrease in July.

On a monthly basis, consumer prices in Austria rose by 0.2 percent in August, also in line with the preliminary estimate, after a 0.3 percent monthly increase in July.

The annual growth rate of the Harmonized Index of Consumer Prices (HICP), calculated for EU comparison purposes, accelerated to 4.1 percent in August from 3.7 percent in the previous month, and a monthly increase of 0.3 percent was recorded following a 0.1 percent increase in the previous month.