Financial News: Austria Inflation Eases To 10.9%, More Than Estimated

Austria Inflation Eases To 10.9%, More Than Estimated

03/17/2023 - 05:09:00 (RTTNews)

(RTTNews) - Austria's consumer price inflation eased more than initially estimated in February, final data from Statistics Austria showed on Friday.

Consumer prices climbed 10.9 percent year-on-year in February, slower than the 11.2 percent rise in January. The rate was revised down slightly from 11.0 percent.

EU harmonized inflation also moderated to 11.0 percent from 11.6 percent a month ago. That was in line with the flash data published on March 2.

The slight fall in consumer price inflation was largely attributed to a slowdown in the price growth of household energy and fuels, the agency said.

Costs for housing, water and energy surged 16.5 percent annually in February, though the pace of growth eased from 19.3 percent in January. Prices for food and non-alcoholic beverages alone grew by 16.2 percent.

On a monthly basis, the consumer price index moved up 0.9 percent, revised down from 1.0 percent. At the same time, the monthly increase in the HICP was confirmed at 0.8 percent.

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