Financial News: Austria Inflation Unrevised At 1.8%

Austria Inflation Unrevised At 1.8%

11/19/2024 - 03:46:00 (RTTNews)

(RTTNews) - Austria's consumer price inflation remained below the ECB's target range for the second straight month, as initially estimated in October, the latest data from Statistics Austria showed on Tuesday.

The consumer price index climbed 1.8 percent year-over-year in October, the same as in the previous month. That was in line with the flash data published earlier.

The latest inflation was the weakest since February 2021, when prices had risen 1.2 percent. Moreover, inflation stayed below the ECB's stability target of 2.0 percent for the second month in a row.

Cheaper fuel prices compared to the previous year continued to have the greatest inflation-dampening effect, the agency said.

Costs for housing and utilities rose only 0.2 percent annually in October versus a 1.5 percent increase in September. Data showed that transport costs were 2.3 percent less expensive as fuel prices slumped by 12.3 percent.

On a monthly basis, consumer prices moved up 0.3 percent, as estimated.

The EU measure of the harmonized index of consumer prices, or HICP, also rose at a steady rate of 1.8 percent. Monthly, the HICP rose 0.4 percent. There was no change in figures compared to the flash report.

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