According to a first estimate, prices in Austria were on average 1.9 percent higher in November than in November 2023. Compared to the previous month of October, the price level is expected to rise by 0.3 percent.
“The slight increase after 1.8 percent in October is mainly due to the fact that energy prices are no longer dampening inflation so strongly,” Tobias Thomas, managing director of Statistics Austria, said, according to the statement.
Services as a driver of inflation
“The strongest driver of inflation in November was again the services sector, where prices rose by 4.4 percent year-on-year,” the statistics chief said. “The price increase for food, tobacco and alcohol also remains above the general inflation rate, with an increase of 2.5 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.
