Wholesale prices in Austria fell year-on-year, but rose month-on-month in July

Wholesale prices in Austria rose by 0.2 percent month-on-month in July, after a 0.6 percent increase in June. However, they fell by 0.1 percent year-on-year, after rising by 0.2 percent in June, the first increase since January.

In July, higher food prices were the main drivers of wholesale prices, which were offset by an annual decline in the prices of fuels and petroleum products, said Thomas Burg, CEO of the Austrian Statistical Office.

Wholesale prices of coffee, tea, cocoa and spices in particular rose significantly, by 28.7 percent compared to a year earlier. Watches and jewelry also rose above average by 18.9 percent, while live animals rose by 16.5 percent and non-alcoholic beverages by 9.7 percent year-on-year. Fruits and vegetables (+7.7 percent), meat and meat products (+6.0 percent), dairy products, eggs, and edible oils and fats (+5.7 percent) also rose year-on-year in July.

In contrast, solid fuels prices fell by 10.2 percent, other petroleum products by 8.5 percent, rubber and plastic raw materials by 7.7 percent, and wholesale gasoline prices by 6.3 percent year-on-year in the seventh month of the year.