Financial News: Austria Inflation Confirmed At 3.2%

Austria Inflation Confirmed At 3.2%

(RTTNews) - Austria's consumer price inflation moderated in June to the lowest level in three months, as initially estimated, the latest data from Statistics Austria showed on Friday.

The consumer price index climbed 3.2 percent year-over-year in June, slower than the 3.7 percent increase in May, which was the highest inflation rate in five months. That was in line with the flash data published on July 1.

The main factor behind the easing of price pressures was the significantly lower rise in fuel and heating oil prices, the agency said. Nonetheless, the overall inflation was largely caused by a 6.5 percent growth in transport costs.

Housing and utility costs grew 3.0 percent, and charges at restaurants and accommodation services were 4.5 percent more expensive. Meanwhile, prices for food and non-alcoholic beverages rose at a slower rate of 1.3 percent.

On a monthly basis, consumer prices remained flat, as estimated.

The EU measure of inflation, the harmonized index of consumer prices, grew 3.2 percent annually in June versus 3.7 percent in May.

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