At the beginning of the year, inflation in Austria fell significantly. According to a preliminary estimate by the Austrian Statistical Office, goods and services cost 4.5 percent more in January than a year ago. This is the lowest value since the end of 2021.
Last December the inflation rate was 5.6 percent. The reason for the decline was a slower increase in energy prices; electricity prices in particular had a dampening effect.
Prices have also risen less sharply than recently in many other areas, Tobias Thomas, general manager of Statistics Austria, said on Thursday.
“Inflation has already more than halved since its peak a year ago. For 2024, experts expect a further halving compared to 2023,” said Finance Minister Magnus Brunner (ÖVP).
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.
