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Financial News: Austria Inflation Accelerates As Estimated

Austria Inflation Accelerates As Estimated

11/17/2022 - 04:50:00 (RTTNews)

(RTTNews) - Austria's consumer prices increased in October as initially estimated, final data from Statistics Austria showed on Thursday.

Consumer price inflation accelerated to 11.0 percent in October from a revised 10.6 percent in September, as estimated.

"For the two most important price drivers, household energy followed by fuel prices, the upward trend has come to a temporary end," Statistics Austria Director General Tobias Thomas said.

"On the other hand, the wave of inflation is hitting more and more areas of expenditure."

Clothing prices, which have hardly increased in recent months, jumped sharply in October, while furniture prices rose at a faster rate. Prices in food and restaurants also increased.

The EU measure of harmonized index of consumer prices, or HICP, increased 11.5 percent annually in October, following a revised 11.0 percent growth in the preceding month, as initially estimated.

On a monthly basis, consumer prices rose 1.0 percent monthly in October. This was in line with initial estimate.

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