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The inflation of the past few months has left many Austrians struggling. However, a recent Eurostat study now shows that people in Austria are grumbling at a high level. Suppose one adjusts the net disposable income for inflation. In that case, it becomes clear that Austrians have the third highest incomes in the EU – this is the conclusion reached by Eurostat in a recent analysis.
This figure is almost 2,000 euros or around eight percent higher than in Germany or 6,400 euros or 34 percent higher than the EU average. Finance Minister Magnus Brunner (ÖVP) sees these figures as confirmation of the federal government’s approach. The policy measures have helped to maintain purchasing power in Austria. “The combination of aid to support purchasing power, targeted price and cost reduction measures for electricity and structural measures ensures that life remains affordable for people despite all the challenges.”
“Austria has the third highest real disposable income in the EU. Even though these budgetary measures to support purchasing power are evident, Austria abides by the 3% Maastricht limit. And this year, for the first time after the crisis—and in the coming years too.”
Minister of Labor and Economic Affairs Martin Kocher adds: “The Austrian federal government has taken many measures to strengthen purchasing power and thus cushion the effects of inflation. This was recently confirmed by the Parliamentary Budget Service, among others. According to the Budget Service, purchasing power has been maintained, particularly in the low-income sector.”
Compared with other EU member states, Austria has the third-highest actual, i.e., inflation-adjusted, average income. Kocher claims this further demonstrates how Austria has taken specific action to assist households negatively impacted by inflation by eliminating cold progression, increasing the value of social and family benefits, and implementing numerous other initiatives.
- source: heute.at/picture: pixabay.com
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