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Financial News: Austria Wholesale Price Inflation Eases In May

Austria Wholesale Price Inflation Eases In May

06/07/2022 - 05:43:00 (RTTNews)

(RTTNews) - Austria's wholesale price inflation increased at a softer rate in May, data from Statistics Austria showed on Tuesday.

The wholesale prices increased 25.1 percent yearly in May, after a 26.0 percent rise in April.

The biggest impact came from the rise in prices for solid fuels, by 110.0 percent annually, in May and prices for food also increased, Statistics Austria Director General Tobias Thomas said.

"Since inflation in wholesale usually affects consumer prices with a lag, it also gives an indication of the further development of general inflation," Thomas added.

Prices of other liquid and gaseous fuels and related products gained 95.3 percent. Prices for fertilizers and agrochemicals, and iron and steel increased by 77.4 percent and 67.2 percent, respectively.

On a month-on-month basis, wholesale prices rose 1.0 percent in May, following a 0.9 percent increase in the prior month.

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