Inflation in Austria remains high. In January, the depreciation of the currency even accelerated again. According to a quick estimate by Statistics Austria, it rose to 11.1 percent – a new record.
According to Statistics Austria, electricity prices are the reason for the increase. The brake on the electricity price has no effect here, as the measures to control network costs only come into effect from March.
Even weaker in December
Inflation last declined to 10.2 percent in December, after rising sharply in recent months. The highest value of the current inflation wave was in October 2022 at 11.0 percent.
Austria is currently experiencing the highest inflation in 70 years. At that time, in July 1952, inflation was 14.1 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.
