Inflation in Austria fell slightly to 10.6 percent in November – in October inflation was 11 percent on an annual basis. Compared to October, the average price level rose by 0.3 percent. The reason for the decline is the easing price pressure on the two biggest drivers of inflation, household energy and fuel. Food prices, on the other hand, continue to rise.
The inflation rate (HICP) harmonized at European level was 11.2 percent (October 2022: 11.6 percent), which is higher than the Austrian calculation.
The price level of the micro-shopping basket for daily shopping, which mainly contains groceries, but also dailies or coffee in the coffee house, rose year-on-year by 14.4 percent. (October: plus 12.2 percent).
According to Statistics Austria, the price level of the mini-shopping basket, which reflects weekly purchases and includes food and services in addition to fuel, has increased by 14.1 percent year-on-year (October: plus 15.5 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.
