Inflation in Austria Rises to 3.1 Percent in April

Services remained the strongest driver of inflation with an increase of 4.8 percent. They "dominate inflation even more than recently," Statistics Austria announced on Friday. The European Central Bank aims for about 2 percent inflation.

Inflation: Increase in Energy Prices Well Below General Inflation Rate

Prices for food, tobacco, and alcohol rose slightly above average at 3.2 percent, while energy prices increased by only 0.7 percent, well below the general inflation rate. Significantly reduced fuel prices have mostly offset the impact of increased electricity prices, according to Statistics Austria Director General Tobias Thomas. Industrial goods became 0.9 percent more expensive year-on-year.

According to a quick estimate, the harmonized consumer price index (HCPI) increased by 3.3 percent year-on-year in April, even more than the CPI. For this indicator, the quick estimate showed a monthly increase of 0.3 percent.

FPÖ General Secretary Michael Schnedlitz criticized in a statement: "While the government stands idly by, life is becoming increasingly unaffordable for many Austrians." And further: "Instead of taking effective measures against rising prices, the traffic light coalition is worsening the situation through austerity measures for pensioners and social benefits. At the same time, money is being spent lavishly on questionable projects and oversized ministerial offices."

(APA/Red)

This article has been automatically translated, read the original article here.