Inflation fell slightly to 10.9 percent in February, after standing at 11.2 percent in January. Less price pressure on household energy and fuel was responsible for the decline. On the other hand, the price spiral continued, especially in the catering industry, and inflation is still noticeable at the supermarket checkout.
Austrians clearly notice inflation when they do their daily or weekly shopping. Food prices are up 16.5 percent year-on-year, according to data from Statistics Austria.
Consistent price increases
Daily groceries, which include food and newspapers and coffee in the coffee house, rose by no less than 15.3 percent in February compared to February 2022. Weekly purchases, which also include fuel, rose by 11.7 percent year-on-year. You also have to pay an average of 13.4 percent more at the inn than a year ago.
While energy prices are still significantly higher than last year, they have weakened compared to previous months. Although household energy prices rose by 37 percent in February, the increase in January was almost 52 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.
