Inflation in Austria rose by 11 percent in October compared to the same month last year. Compared to September, prices rose by one percent, Austria reports Thursday. Household energy remained the main determinant of prices, followed by fuel. However, the wave of inflation also reached other areas of expenditure.
September’s inflation figures had to be revised upwards. According to the statistics authority, this is 10.6 percent instead of the aforementioned 10.5.
Significant jump in the price of clothes
“In the case of the two main price drivers, household energy followed by fuel prices, the upward trend has come to an end for now,” said Tobias Thomas, head of the authorities. On the other hand, inflation is affecting more and more areas of expenditure. “Clothing, where there have been hardly any price increases in recent months, experienced a significant price jump in October.” In addition, the price spiral for furniture is spinning faster and faster, but for food and gastronomy is slightly less dynamic, says Thomas. . Excluding expenditure on energy and fuel for households, inflation would have been 7.3 percent.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
