According to Statistics Austria, the inflation rate in Austria fell to 2.3 percent in August, slightly lower than the statistical authority’s flash estimate of 2.4 percent two weeks ago. Inflation has thus fallen to its lowest level since April 2021.
“The decline is largely due to fuel and heating oil,” said Tobias Thomas, Managing Director of Statistics Austria, in a press release.
General inflation
For food, the price increase was again significantly lower than the general inflation, but in the hospitality industry prices continued to grow more than twice as fast as the total inflation, according to Thomas. Without the price development for fuel and heating oil, inflation would be 2.7 percent.
The price level of the micro shopping cart increased
According to Statistics Austria, the price level of the micro shopping basket, which reflects daily shopping and mainly includes food, but also daily newspapers or coffee in the coffee house, rose by 4.2 percent year-on-year in August.
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.
