The inflation rate for October 2024 is expected to be 1.8 percent; compared to the previous month of September, the price level will increase by 0.3 percent, Statistics Austria said in its CPI flash estimate on Thursday. The strongest price drivers are services, which increased by 4.6 percent compared to the same month last year. Energy prices had the greatest inflation-dampening effect.
“With a decrease of more than eleven percent compared to the same month last year, they now reduce inflation by more than one percentage point,” the statisticians calculate. Prices for food, tobacco and alcohol are rising sharply again for the fourth month in a row and, with an increase of three percent, are well above the general inflation rate.
Inflation in Germany rose surprisingly
This means that inflation in Austria in October was the same as in September. In neighboring Germany, inflation surprisingly and unexpectedly rose sharply from 1.6 to 2.0 percent in October.
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.
