Inflation in Austria grows less than estimated

Brusels (DPA -AFX) – Austrian consumption inflation has accelerated a little less than initially estimated in January at the highest level in eight months, the latest data in Austria statistics said on Tuesday.

The consumer price index rose by 3.2 percent from year to year in January, faster than 2.0 percent increase in December. In Flash estimation, the inflation rate was 3.3 percent.

Moreover, this was the largest inflation in May 2024, when the prices increased the same 3.3 percent.

By this, the inflation rate is now far beyond the stability target of the European Central Bank of 2.0 percent.

“The expiration of the electric pricing ceiling, the increase of CO2 tax taxes and the electricity grid and natural gas led to inflation in Austria in early 2025,” said Tobias Thomas, General Manager of Statistics Austria.

The energy prices were 4.4 percent higher in January compared to a year ago, after having a damping effect on prices in the previous months. Transport -based inflation increased to 2.4 percent from 1.0 percent. Meanwhile, clothing and footwear prices have dropped by 1.1 percent.

On a monthly basis, consumption prices increased by 1.0 percent, revised from an increase of 1.1 percent.

The EU measure of the harmonized index of consumer prices, or HICP, has also increased with a faster 3.4 percent rate compared to an increase of 2.1 percent in December. The initial rate was 3.5 percent. Monthly, HICP increased by 0.9 percent, as it is estimated.