Austria Inflation Confirmed At 17-Month High

(RTTNews) - Austria's consumer price inflation increased as initially estimated in August to the highest level in nearly one-and-a-half years, the latest data from Statistics Austria showed on Wednesday.

The consumer price index climbed 4.1 percent year-over-year in August, faster than the 3.6 percent increase in July. This was the highest inflation rate since March 2024. That was in line with the flash data published on September 2.

Moreover, the inflation rate is well above the European Central Bank's stability target of 2.0 percent.

The rise in inflation was mainly driven by a 6.1 percent rise in housing and utility costs amid higher electricity costs. Prices for food, tobacco, and alcohol grew 5.2 percent annually in August, and costs for clothing and footwear were 4.5 percent higher.

On a monthly basis, consumer prices moved up 0.2 percent.

The EU measure of the harmonized index of consumer prices, or HICP, also rose at a faster rate of 4.1 percent versus a 3.7 percent increase in July. Monthly, the HICP increased 0.3 percent. There was no change in figures compared to the flash estimate.