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Financial News: Austria Wholesale Price Inflation At Record High; Trade

Austria Wholesale Price Inflation At Record High; Trade Deficit Widens

05/06/2022 - 06:49:00 (RTTNews)

(RTTNews) - Austria's wholesale price inflation accelerated to the highest since the series began in 1973, data from Statistics Austria showed on Friday.

Separate data showed that the trade deficit widened in February, as imports rose more than exports.

The wholesale prices increased 26.0 percent yearly in April, following a 25.6 percent rise in March.

Prices for solid fuels surged 109.5 percent annually in April and those of other petroleum products gained 97.4 percent. Prices for iron and steel, and fertilizers and agrochemicals increased by 85.8 percent and 82.6 percent, respectively.

On a month-on-month basis, wholesale prices rose 0.9 percent in April, after a 9.7 percent growth in the prior month.

Separate data from the statistical office showed that the trade deficit widened to EUR 1.21 billion in February from EUR 324.33 million in the same month last year.

Exports gained 14.7 percent annually in February and imports rose 21.1 percent.

The development was driven, among other things, by higher energy prices, Statistics Austria Director General Tobias Thomas, said.

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