Austria's inflation remained above 9% in Aug

By IANS | Published: September 17, 2022 09:57 AM2022-09-17T09:57:05+5:302022-09-17T10:10:28+5:30

Vienna, Sep 17 Inflation in Austria remained over the high level of 9 per cent in August. Statistics ...

Austria's inflation remained above 9% in Aug | Austria's inflation remained above 9% in Aug

Austria's inflation remained above 9% in Aug

Vienna, Sep 17 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.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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