Inflation in Austria remains high at 2.9 percent in July. Food inflation has declined and housing costs have stabilized. Gastronomy remains the price-determining factor.
“The price increases in the hospitality industry more than doubled headline inflation in July,” said Tobias Thomas, Managing Director of Statistics Austria. Restaurants and hotels account for almost a third of inflation, while residential properties still account for a fifth. The decisive factor here was the price of household energy, which fell significantly less than in June.
Airline packages are more expensive
The most important price-determining factor compared to the previous month were the more expensive flight packages. These rose by an average of 14.6 percent. Clothing has become cheaper again compared to June.
For the first time since July 2021, inflation was below three percent in July. Statistics Austria said it had stabilized.
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.
