Austria: Harmonized inflation rises in September
Harmonized inflation came in at 10.9% in September, which was up from August’s 9.3%. September’s figure was the highest inflation rate since our current records began. The rebound was broad-based, with greater price pressures recorded for food and non-alcoholic beverages, transportation, and housing and utilities.
Annual average harmonized inflation rose to 6.8% in September (August: 6.2%). Meanwhile, consumer price inflation rose to 10.5% in September, from the previous month’s 9.3%.
Lastly, harmonized consumer prices increased 2.44% in September over the previous month, contrasting August’s 0.12% drop.
Analysts at the EIU added:
“In line with trends seen across Europe, headline inflation in Austria has accelerated sharply in recent months. This is mainly linked to supply bottlenecks and higher global commodity prices, which have raised household energy prices and fuel costs. However, underlying price pressures are also elevated, and core inflation, which excludes price-volatile items such as energy and unprocessed food, has also accelerated sharply. We expect average annual inflation to remain elevated in 2023, at 9%.”