Retail Shrunk in August

This is the first decline after four months of growth, as reported by Statistics Austria on Monday. In the case of food, nominal revenues were 2.0 percent higher, but 2.5 percent lower in real terms.

Inflation in Austria currently almost twice as high as in the Eurozone

"Especially in the retail sector for food, we see a significant difference between the nominal revenue increase and a real revenue decrease due to the high inflation in food prices," explained Statistics Austria's head Manuela Lenk.

In Austria, inflation is currently almost twice as high as in the Eurozone. The strongest price drivers are gastronomy, food, and electricity.

(APA/Red)

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