News Karnataka
Wednesday, September 28 2022

Vienna: Austria’s inflation remained above 9% in Aug

Photo Credit : IANS

Vienna: Inflation in Austria remained over the high level of 9 per cent in August.

Statistics Austria said on Friday that at 9.3 per cent, inflation in August was 0.1 percentage points lower than the revised July inflation rate of 9.4 per cent, reports Xinhua news agency.

However, energy and food prices have continued to soar despite anti-inflation government policies, it added.

The slight month-on-month decline was due to fuel prices, which fell by 10.4 per cent compared to July.

However, although Statistics Austria said the August inflation rate would have stood at 9.9 per cent without the decline in fuel prices, they remain the strongest driver of annual inflation.

“The trend of rising prices remained unbroken for household energy, food and restaurants,” said Tobias Thomas, director general of Statistics Austria.

The Austrian government has introduced several packages of measures to combat inflation, including increasing social benefits for the unemployed and other vulnerable groups.

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