According to a preliminary estimate by Statistics Austria, inflation fell to eight percent in June, down from nine percent in May. This is the lowest value since May 2022. The decrease is mainly due to the sharp drop in the price of heating oil and heating oil compared to the same month last year.
In addition, the persistently high price increases in the areas of gastronomy, household energy and food have moderated somewhat.
The harmonized index of consumer prices (HICP) for June 2023 is up 7.8 percent, up 0.3 percent month on month. This data was presented by Statistics Austria on Friday.
Germany announced inflation for June yesterday, which stands at 6.4 percent. In May, German inflation had fallen to 6.1 percent.
In Austria there have recently been discussions whether the high inflation is the result of wage agreements of around ten percent. Collective bargaining is traditionally based on inflation over the past twelve months.
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.
