Austria: Government sets measures against inflation

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The government presented a package against inflation on Wednesday. The main issue is the price of energy, but also food. The measures are intended to put the onus on corporations. It is a thorn in the government’s side that falling wholesale prices for electricity and gas are hardly passed on to end customers by energy companies while, at the same time, high profits are being made.
As he announced on ORF’s “Report,” Social Affairs Minister Johannes Rauch wants an energy package to be decided before the summer and to take effect in the fall before the next heating season. With measures against the high food prices, it is to go faster.

Rauch hosted a “food summit” on Monday, but no solutions were announced. After the summit, only the managing director of the trade association, Rainer Will, held out the prospect that for “the duration of the inflation crisis,” the four major chains would regularly submit a list of the sales prices of the 20 to 30 cheapest price entry products to the Ministry of Social Affairs. For his part, Minister of Economy Martin Kocher (ÖVP) announced further consultations on rising prices for Friday.