The gradual devaluation of money and with it inflation are still at record levels in Austria. In April, inflation rose to 9.7 percent, Statistics Austria announced on Wednesday. There were mainly price increases for flights, accommodation and gastronomy.
Currently, it is mainly the price jumps for package holidays that are driving inflation up. “In the first summer season that has not been affected by the corona pandemic since 2019, the desire to travel is accompanied by rising prices for flights, accommodation and gastronomy in Austria and the popular holiday destinations abroad,” explains Tobias Thomas, Director General of Statistics Austria.
Prices for package holidays have risen sharply compared to last year, making them a major driver of inflation for the first time in a long time. But food prices are also still high, rising almost as much in April as in March. However, compared to last year, fuel oil and heating oil became cheaper again.
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.
