Strong inflation in Austria is likely to have moderated somewhat in November due to lower energy prices. Inflation fell to 10.6 percent in November, according to a quick estimate by Statistics Austria. “One reason for this is that price increases for the main inflation drivers, energy and household fuel, are moderating,” the statisticians said on Wednesday.
In October, prices were still 11 percent higher than a year ago. According to preliminary estimates, the harmonized index of consumer prices (HICP) increased by 11.1 percent on an annual basis. Compared to the previous month, the price level according to the HICP rose by 0.1 percent. The final figures will be announced on December 16.
In September, inflation had risen to a 70-year high, which was reached again in October. Inflation is not only driven by the costs of energy and heating, the prices of clothing, furniture and other goods have also risen sharply.
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.
