Austria Inflation Rises More Than Estimated

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

The consumer price index climbed 3.4 percent year-over-year in April, faster than the 3.2 percent increase in March. In the flash estimate, the inflation rate was 3.3 percent.

The upward trend in inflation was largely driven by a 7.7 percent surge in transport charges amid a 28.0 percent surge in fuel prices.

Costs for housing and utility costs were 3.3 percent more expensive compared to last year, and charges in connection with restaurants and accommodation services rose 4.9 percent. Prices for food and non-alcoholic beverages rose 2.4 percent, and those for recreation, sport, and culture increased by 0.9 percent.

On a monthly basis, consumer prices moved up 0.4 percent, revised up slightly from 0.3 percent.

The EU measure of inflation, the harmonized index of consumer prices, rose at a faster pace by 3.4 percent annually versus a revised 3.2 percent in March. The flash estimate was 3.3 percent.