In Austria, food inflation slowed down in September

By: Trademagazin Date: 2024. 10. 18. 11:42

In accordance with the preliminary estimate, the annual growth of consumer prices in Austria fell to 1.8 percent, the lowest since February 2021, in September after the previous month’s 2.3 percent, according to the final data published by the Austrian statistical office (Bundesanstalt Statistik Österreich – STAT) on Thursday.

In September, Austrian inflation returned to the ECB’s target range for the first time since April 2021. The decrease in the price of fuel contributed to the slowdown in annual inflation. In addition, the increase in the price of services has also moderated significantly, however, the rise in the price of services is still the main driving force of inflation.

In the catering industry, the rate of price increase continued to exceed the average inflation rate, while the increase in food prices was smaller, but again accelerated significantly, said Tobias Thomas, CEO of the Austrian Statistical Office.

On a monthly basis, consumer prices in Austria decreased by 0.1 percent in September, while a month earlier, in August, they decreased by 0.2 percent.

The annual growth rate of the harmonized index of consumer prices (HICP), calculated for EU comparison purposes, was 1.8 percent in September after 2.4 percent in the previous month, and a monthly increase of 0.3 percent was registered after the previous month’s decline of 0.1 percent.