The inflation rate for August 2023 is expected to be 7.5 percent, according to calculations by Statistics Austria as part of a flash estimate. Once again, fuel prices are the deciding factor.
Compared to the previous month, the price level is expected to increase by about half a percentage point, the value added up at that time amounted to an increase of 7.0 percent. “The increase is mainly due to the fact that fuel prices reduce inflation much less than in previous months,” Statistics Austria Director General Tobias Thomas explained in a broadcast.
An annual comparison gives reason to hope for a positive development
However, the particularly high price increases in September and October 2022 indicate that the previous trend of falling inflation rates will continue in the coming months compared to the previous year, he continues.
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.
