Wholesale prices in Austria decreased on a monthly basis, increased on an annual basis in October

Austrian wholesale prices fell 0.3 percent month-on-month in October, after rising 0.3 percent in September.

Wholesale prices rose 0.2 percent year-on-year in October, after rising 1.2 percent a month earlier.

The slowdown in wholesale price increases in October was primarily due to the annual decline in the prices of fuels, heating oil, cereals, seeds and animal feed, as well as plastics and rubber raw materials. However, the decline was partially offset by the continued high price pressure in food.

According to the statement by Statistik Austria, the wholesale prices of coffee, tea, cocoa and spices in particular increased significantly, by 24.6 percent compared to a year earlier. Watches and jewellery also rose above average, by 22.2 percent in October, while the price of live animals increased by 18.7 percent on an annual basis, and an annual price increase of 6.5 percent was recorded for non-alcoholic beverages. The prices of sugar, chocolate and sweets increased by 7.3 percent, those of dairy products, eggs and edible oils and fats by 5.9 percent, and those of meat and meat products by 5.1 percent year-on-year in the tenth month of the year.