BRUSSELS (dpa-AFX) - Austria's consumer price inflation increased more than initially estimated in July to the highest level in more than a year, the latest data from Statistics Austria showed on Wednesday.
The consumer price index climbed 3.6 percent year-over-year in July, faster than the 3.3 percent increase in June. This was the fastest increase since April 2024.
In the flash estimate, the inflation rate was 3.5 percent.
Moreover, the inflation rate is well above the European Central Bank's stability target of 2.0 percent.
The rise in inflation was mainly driven by a 5.7 percent rise in housing and energy costs, followed by a 5.6 percent spike in charges at restaurants and hotels. Food prices alone rose 5.2 percent annually in June, and costs for recreation and culture were 3.9 percent higher.
On a monthly basis, consumer prices moved up 0.3 percent, revised from 0.2 percent.
The EU measure of the harmonized index of consumer prices, or HICP, also rose at a faster rate of 3.7 percent versus a 3.2 percent increase in June. In the initial estimate, the HICP climbed 3.6 percent.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
