Austria’s consumer price inflation moderated in January to the lowest level in just over a year amid cheaper energy costs, a flash estimate from Statistics Austria showed on Wednesday.
The consumer price index climbed 2.0 percent year-over-year in January, slower than the 3.8 percent increase in November. A similar inflation rate was last seen in December 2024.
Moreover, the inflation rate is now in line with the European Central Bank’s stability target of 2.0 percent.
The slowdown in inflation was mainly due to a 4.9 percent decrease in energy costs. Prices for industrial goods rose only by 0.8 percent. Costs for services grew 3.8 percent, but their impact on inflation decreased compared with previous months. Similarly, food, tobacco, and alcohol also rose less sharply than before in January, at 2.7 percent.
On a monthly basis, consumer prices decreased 0.7 percent.
The EU measure of the harmonized index of consumer prices, or HICP, rose 2.0 percent versus a 3.8 percent increase in December. Monthly, the HICP dropped 0.8 percent.
For comments and feedback contact: editorial@rttnews.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
