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In the new year, the wave of inflation that has been swelling for months will pile up even higher. Electricity will become more expensive by about 12 euros a month in eastern Austria starting in January. Milk, sausage and other foodstuffs will be increased…
Here is an overview of what will become more expensive:
Electricity and gas: after a first wave in November, utilities in Vienna, Lower Austria and Burgenland are now raising their tariffs.
Fuel: Prices have already risen sharply this year, and the CO2 tax is likely to make them even more expensive by 10 cents per liter.
Hotel, catering: The value-added tax, which was lowered to five percent because of Corona, will rise again to the normal level of 13 percent on average at the beginning of the year. That alone will drive inflation up by 0.4 percentage points.
Food: After only around 1.2 percent this year, food is likely to become more expensive by 2.8 percent on average, according to Wifo. Due to a shortage of wheat, the bakery industry wants to charge slightly more for bread and pastries, and dairies and sausage producers are also negotiating adjustments of around 10 percent. For a liter of milk, that would be about ten cents. The reason for this is that their costs have risen dramatically, from fertilizers to packaging materials.
Consumer goods: Strong demand for durable products such as electronics and furniture will continue to be met by delivery problems and high transport costs in 2022. If Corona again causes more port closures, ship breakdowns, etc., these goods will become even more expensive.
Rent: Housing is also becoming more expensive – by how much depends on the type of lease. For new leases, the increase can be monthly, adjusted for inflation. In the case of category rents for old buildings, the increase will be 5 percent; in the case of standard-value old-building apartments (with less than 130 m2), it depends on the further development of inflation; Chamber of Commerce experts expect +5.7 percent as of April.
ORF fee: The GIS will increase by 8 percent, that is 18.59 euros more per year.
- source: krone.at/picture: Image by Michal Jarmoluk from Pixabay
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