In Austria, inflation slowed down in June

By: Trademagazin Date: 2024. 07. 19. 11:49

In accordance with the preliminary estimate, the annual growth of consumer prices in Austria fell to 3.0 percent, the lowest since July 2021, in June after the previous month’s 3.3 percent, according to the final data of the Austrian statistical office (Bundesanstalt Statistik Österreich – STAT).

According to the announcement of the Austrian Statistical Office, the slowdown in annual inflation was mainly due to the fact that the prices of food and non-alcoholic beverages, as well as fuel, decreased year-on-year.

The rate of price increase in the catering industry has also moderated compared to the previous months, but it is still well above the average – stated Tobias Thomas, CEO of the Austrian Statistical Office.

The 6.9 percent year-on-year increase in the price of restaurant and hotel services and the 2.5 percent increase in prices for housing and utilities contributed the most to June’s inflation.

On a monthly basis, consumer prices in Austria rose by 0.2 percent in June, while a month earlier, in May, they rose by 0.1 percent.