Financial News: Austria Inflation Rises Less Than Estimated To 9.7%

Austria Inflation Rises Less Than Estimated To 9.7%

(RTTNews) - Austria's consumer price inflation accelerated slightly less than initially estimated in April, the latest data from Statistics Austria showed on Wednesday.

The consumer price index climbed 9.7 percent year-over-year in April, faster than the 9.2 percent rise in the previous month. That was just below the 9.8 percent increase seen in the flash report published on May 2.

EU harmonized inflation also rose to 9.5 percent from 9.2 percent a month ago. In the initial report, the rate of increase was 9.6 percent.

A 14.7 percent spike in utility bills was a major factor in the inflationary trend. This was closely followed by an increase in restaurant and hotel prices of 14.2 percent. Transport charges were 3.3 percent higher compared to last year.

"The prices for package tours abroad, which are in high demand, have increased significantly compared to the previous year and are becoming an important driver of inflation for the first time in a long time," Tobias Thomas, director general at Statistics Austria, said.

On a monthly basis, the consumer price index moved up 0.8 percent, as estimated. The monthly increase in the HICP was 0.9 percent, revised down from 1.0 percent.

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