Food and non-alcoholic beverage price increases continue to accelerate in Austria

Inflationary pressures eased in Austria in March; inflation approached the European Central Bank’s 2 percent inflation target due to lower prices for fuel, airline tickets and package tours, said Tobias Thomas, CEO of the Austrian Statistical Office.

According to a statement from the Austrian Statistical Office, the main driver of inflation in March was the increase in housing and utility prices, which was the same as in the previous month, at 5.2 percent. The annual rate of price increases in the catering sector, at 5.8 percent, continued to be well above the overall inflation rate, which had risen by 6.0 percent a month earlier. The price increase for food and non-alcoholic beverages accelerated to 3.1 percent from 2.6 percent in the previous month, while the rate of increase for alcoholic beverages and tobacco products increased from 1.4 percent to 3.7 percent.

On a monthly basis, consumer prices in Austria rose by 0.2 percent in March, in line with the preliminary estimate, after a monthly increase of 0.6 percent in February.