Austria: Inflation in June “only” at 8%

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In Austria, Inflation reached 5.9 percent in February 2022, the highest level since August 1984.
According to Statistics Austria’s flash estimate, Inflation for June is at 8%. This means it has fallen but remains at a high level.

Statistics Austria’s flash estimate puts Inflation at eight percent for June. Director General Tobias Thomas: “Inflation has continued to slow down in June 2023. According to a first estimate, Inflation is at 8.0%, down from 9.0% in May.” This is the lowest level since May 2022, they say.

“The decline is primarily due to the fact that prices for fuels and heating oil have fallen significantly compared to June of the previous year. In addition, the persistently high price increases in catering, household energy and food continued to weaken slightly in June,” the expert said in a statement.

While the consumer price index increased by eight percent compared to the same month last year, it is “only” 0.5 percent compared to the previous month.