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Financial News: Austria Inflation Eases Less Than Estimated

Austria Inflation Eases Less Than Estimated

09/16/2022 - 06:31:00 (RTTNews)

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

Consumer prices rose 9.3 percent year-on-year in August, after a revised 9.4 percent increase in July. In the initial estimate, inflation was 9.1 percent.

Inflation eased for the first time since April last year, but remained above 9.0 percent, Statistics Austria Director General Tobias Thomas, said.

"The main reason for the slight decline was fuel prices, which fell by 10.4 percent compared to the previous month, but remained the strongest driver of inflation year-on-year," Thomas said.

The EU measure of harmonized index of consumer prices, or HICP, increased 9.2 percent annually in August, as estimated.

On a monthly basis, consumer prices remained stable in August. According to the initial estimate, prices fell 0.2 percent.

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