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Financial News: Austria Inflation Highest Since March 1975

Austria Inflation Highest Since March 1975

07/29/2022 - 11:34:00 (RTTNews)

(RTTNews) - Austria's consumer price inflation rose to the highest level since March 1975, preliminary estimates from Statistics Austria showed on Friday.

Consumer prices rose 9.2 percent yearly in July, following an 8.7 percent increase in June.

"While there are further price increases for household energy and in restaurants, the prices for food and fuel remain at a high level," Tobias Thomas, director general at Statistics Austria, said.

The EU measure of harmonized index of consumer prices, or HICP, gained 9.3 percent annually in July, following an 8.7 percent rise in the preceding month.

On a monthly basis, consumer prices increased 0.8 percent monthly in June, after a 1.4 percent growth in the prior month.

On month-on-month basis, the HICP rose 0.5 percent in July.

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