Austria Inflation Rises More Than Estimated

(RTTNews) - Austria's consumer price inflation increased more than initially estimated in March to the highest level in three months, the latest data from Statistics Austria showed on Thursday.

The consumer price index climbed 3.2 percent year-over-year in March, faster than the 2.2 percent increase in February. In the flash estimate, the inflation rate was 3.1 percent.

The upward trend in inflation was largely driven by a 6.4 percent surge in transport charges amid a 17.5 percent growth in fuel prices.

Charges for restaurants and accommodation services grew 5.1 percent, and housing and utility costs were 2.7 percent more expensive compared to last year. Prices for food and non-alcoholic beverages rose 2.3 percent, while costs for information and communications declined by 2.7 percent.

On a monthly basis, consumer prices moved up 1.2 percent, revised up slightly from 1.1 percent.

The EU measure of inflation, the harmonized index of consumer prices, rose at a faster pace by 3.1 percent annually versus 2.3 percent in February, as estimated. Monthly, the HICP climbed 1.1 percent.