According to a flash estimate from Statistics Austria, inflation in Austria fell to 3.5 percent in April, the lowest value since September 2021.
According to Statistics Austria, this is partly due to the fact that gas prices have fallen significantly below the high level of the previous year for the first time since 2020. Moreover, package holidays in particular had a price-lowering effect year-on-year, as they were a strong price-determining factor in the previous twelve months.
“However, price increases in the catering industry remain above average and fuel prices continue to rise,” Statistics Austria Managing Director Tobias Thomas said on their website.
This brings the European Central Bank’s (ECB) target of two percent inflation, which it considers the optimal level for the economy in the currency area, closer.
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.
