Austria’s consumer price inflation moderated in December and came in below 4.0 percent for the first time in five months, a flash estimate from Statistics Austria showed on Wednesday.
The consumer price index climbed 3.8 percent year-over-year in December, slower than the 4.0 percent increase in November.
Nonetheless, the inflation rate is well above the European Central Bank’s stability target of 2.0 percent.
The slowdown in inflation was mainly due to developments in energy costs, with the annual price growth easing to 9.0 percent in December from 10.9 percent in November.
Inflation based on services moderated marginally to 4.4 percent from 4.5 percent, and prices for food, tobacco, and alcohol were 4.1 percent more expensive.
On a monthly basis, consumer prices increased 0.4 percent.
The EU measure of the harmonized index of consumer prices, or HICP, rose at a slightly slower rate of 3.9 percent versus a 4.0 percent increase in October. Monthly, the HICP increased 0.6 percent.
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