Even though inflation is falling in this country, we cannot keep up with the pace of our German neighbors. There is also increasing criticism of the high rents – because they have risen ‘dramatically’, it is said.
According to a flash estimate from Statistics Austria, inflation in March was 4.2 percent. This is almost identical to the previous February’s value of plus 4.3 percent, but is well below the March 2023 inflation rate of 9.2 percent.
In Germany the price increase for March is 2.2 percent and in France 2.4 percent. Prices in restaurants and hotels in this country have stopped rising so much, but electricity and fuel prices no longer have a price-dampening effect.
Annual inflation will halve
Finance Minister Magnus Brunner (ÖVP) said today about the figures: “This confirms what experts predict: annual inflation in 2024 will be halved compared to the previous year. This means that inflation is continuously falling.”
Rent controls in other countries
The unionized Momentum Institute today referred to a country comparison of rental costs, which showed they had risen “dramatically” in Austria. “Other countries keep rents affordable thanks to rent controls.
In Portugal, rents have only increased by 9.5 percent since 2021, more than 5 percentage points less than in our least increased rental segment, even though there will no longer be a price ceiling in Portugal in 2024. In Spain they only rose by 7.2 percent, in France by 9.8 percent,” the institute calculates.
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.
