US EditionToday in Austria: A Roundup of the Latest News on Thursday
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In July, consumer prices in Austria rise by 3.6 percent. Electricity and gastronomy drive the inflation in July higher than forecast.
The inflation rate in Austria rose to 3.6 percent in July – almost twice as high as on average in the euro zone. IHS CEO Holger Bonin points to the statistical effect of the energy price brakes that expired at the turn of the year. He considers a reduction in value added tax for food to be not "achievable". The measure is very expensive, the effect on the inflation rate is manageable.
Consumer prices this year were 3.6 percent higher than they were a year ago in July - and have thus increased even more than was assumed in Statistik Austria's rapid estimate.
Consumer prices rose by 3.6 percent on an annual basis in July this year, compared to the forecast in Statistics Austria: initially, they were estimated at 3.5 percent, the authorities announced on Wednesday. The harmonised inflation rate was 3.7 percent – well above the EU average of 2.0 percent. A price boost was recorded for food and administration fees. Catering and energy continued to be one of the biggest price drivers.
Consumer prices rose by 3.6 percent on an annual basis this year in July, compared to the forecast in Statistics Austria: this is where they were estimated to be 3.5 percent, the authority announced on Wednesday.
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