Austrian Inflation Rises In August

Austrian Inflation Rises In August


Austria's consumer price inflation accelerated in August, mainly due to a sharper growth in fuel prices, data released by Statistics Austria showed Friday.
Annual inflation, based on the consumer price index, increased to 2.2 percent in August from 2.1 percent in July, which was higher than 2.2 percent recorded in June.
Prices of fuel products climbed 8.1 percent annually during the month, markedly faster than July's 4.4 percent rise. Food prices were higher by 3.7 percent compared to last year, and housing costs and utility prices by 3.2 percent.
On a monthly basis, the consumer price index moved up 0.3 percent in August, the agency said.
At the same time, the harmonized index of consumer prices (HICP), measured under the EU methodology, rose 2.3 percent year-on-year in August, after gaining 2.1 percent in July.