Inflation is likely to slow down again in September

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Following an increase in the inflation rate in August, inflation in Austria is likely to have eased again in September. This is due to exceptionally high price increases in September 2022, which adjusts inflation for this effect in this year’s September. In August, inflation in this country was 7.4 percent. Statistics Austria will publish its latest flash estimate on Friday. The figure is also vital for collective bargaining negotiations.

Austria is one of those countries in the eurozone with high inflation. In Germany, inflation fell to 4.5 percent in September, the lowest since Russia’s attack on Ukraine, according to the flash estimate. In the eurozone, it was most recently 5.2 percent. A preliminary estimate of consumer prices for September will also be released for the euro area on Friday. The European Central Bank (ECB) aims for 2 percent inflation as the optimal level for the eurozone economy.