Austria: Inflation rises to 7.5 percent

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No relief for the extremely troubled household budgets: Inflation picked up again in August. Prices increased by an average of 7.5%, according to the quick estimate of Statistics Austria. This means we are now paying 7.5% more for purchases and services than last year!

“After 7.0% in July, prices rose to 7.5% in August, according to a first estimate. The increase is mainly due to the fact that fuel prices are reducing inflation much less than in previous months. However, the particularly high increases in prices in September and October 2022 suggest that the previous year-on-year trend of falling inflation rates will continue in the coming months,” explains Statistics Austria Director General Tobias Thomas.

Gas became more than 80% more expensive
Although inflation was lower in July, many values of the detailed analysis are shocking: the highest increase at that time was in gas (+82.6%), and district heating (+60.3%) also shot up. Prices for daily purchases are also rising: they are 10.1% higher compared to July 2022. More than 50% more money is spent on sugar. In July, prices for milk, cheese, and eggs rose by 8%, while those for vegetables increased by nearly 13%. Prices for bread and cereal products rose an average of 13.5 percent. Meat costs 8 percent more, and fruit almost 6 percent more.

  • source: oe24.at/picture: pixabay.com
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