News Karnataka
Wednesday, November 29 2023

Vienna: Austria’s inflation still high despite downward trend

Austria's inflation
Photo Credit : IANS

Vienna: The growth in consumer prices in Austria slowed down between January and March amid falling energy prices, but overall, inflation was still high, according to official data.

The data released by Statistics Austria showed that the central European country’s inflation in March stood at 9.2 per cent, down from 10.9 per cent in February and 11.2 pe rcent in January, as “fuel and heating oil prices had fallen sharply” compared to March 2022, reports Xinhua news agency.

The price of food products, however, kept growing sharply in March, representing a 14.7-per cent increase from a year earlier.

Prices in the catering segment, including restaurants and hotels, increased 13.2 per cent in March year on year.

In 2022, consumer prices in Austria rose by an average of 8.6 per cent, driven by surging energy prices.

This represents the highest annual inflation rate recorded in the country since 1975, according to Statistics Austria.

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