VIENNA, 18th April, 2024 (WAM) -- The latest official figures from Statistics Austria showed a halt in the rise of the inflation rate in Austria, remaining at 4.1 percent in March, continuing at the same rate recorded in February. This comes amid government efforts to urge producers and traders to refrain from raising prices.
“At 4.1 percent in March 2024, inflation in Austria was the same as in February. This is the lowest increase in consumer prices since October 2021, but still twice as high as the ECBʼs stability target of 2.0 percent. We are currently seeing lower price increases for food and restaurants than in previous months. However, electricity prices are no longer having a dampening effect on prices year-on-year, but rather a moderate upward effect,” said Tobias Thomas, Director-General of Statistics Austria.
According to a press release issued by Statistics Austria, overall inflation has significantly declined in recent months, especially in the food sector, which has witnessed a sharp decrease in price increases for food items. Food prices increased by 2.9 percent in March, which is 1.2 percent lower than the general inflation rate, compared to last year when prices for most goods and food items increased much more.