According to a flash estimate by Statistics Austria, inflation in Austria fell to 2.4 percent in August. It was at its lowest level since April 2021. In July, annual inflation was still 2.9 percent.
Prices probably fell by 0.2 percent in August compared to the previous month. Fuel and heating oil in particular became cheaper.
“Austria’s inflation rate is just 0.4 percentage points away from the ECB target. According to an initial estimate, inflation fell to 2.4 percent in August 2024 – the lowest value since April 2021,” said Tobias Thomas, Director General of Statistics Austria.
“In contrast to previous months, fuels in particular, but also heating oil, no longer have a price-increasing effect, but rather a noticeable price-dampening effect compared to the previous year.”
According to the preliminary estimate, the Harmonised Index of Consumer Prices (HICP) for EU comparisons stood at 2.5 percent in August, while the price level according to the HICP fell by 0.1 percent in July. In July, the HICP also stood at 2.9 percent.
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.
