In Austria, consumer prices continue to rise sharply. According to a quick estimate by Statistics Austria, inflation would have risen to 11 percent in October and thus remain in double digits. Inflation was fueled mainly by high household energy and fuel prices, statisticians said Monday.
“In the meantime, inflation has hit almost all areas, besides gastronomy and food, there are now also significant price increases in clothing,” said Statistics Austria General Manager Tobias Thomas. Compared to the previous month, the price level is expected to rise by one percent. In September, prices were still 10.5 percent higher than a year ago.
Increased every month this year
So, inflation has risen every month so far this year. Time and again there were new record values: in September it had reached a 70-year high of 10.5 percent, in August and July inflation was 9.3 percent. In June it was 8.7 percent, in May 8.1 percent, in April 7.2 percent and in March 6.8 percent. In February and January it was 5.9 and 5 percent respectively, the highest level since 1984 in the first two months of the year.
Consumer price index also up
The Harmonized Index of Consumer Prices (HICP) also skyrocketed, which is likely to have increased by 11.5 percent year-on-year, according to preliminary estimates. Compared to the previous month, the price level has risen by 1.2 percent according to the HICP. The final figures will be announced on November 17.
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.