Inflation in Austria remains at a high level: According to a flash estimate by Statistics Austria on Friday, it should have been 4.3 percent in December. The prices rose at the same rate as in November.
The inflation rate in the entire euro area is likely to have been 5.0 percent. Inflation in the euro area thus reached its highest level since the statistics began in 1997. It is thus far more than twice as high as the target of the European Central Bank (ECB), which is aiming for a rate of 2.0 percent as the optimal value in the medium term.
The ECB recently raised its inflation forecast for the new year to 3.2 percent, almost doubling it. Some of the ranks of the monetary authorities have recently warned of prolonged high inflation.
In Austria yesterday, Friday, demands were made by the opposition and the Chamber of Labor for an inflation adjustment for the population. Andreas Stangl, President of the Upper Austrian Chamber of Labor, also demanded that politicians intervene to regulate the situation. The market does not work, the rising energy prices must be counteracted.
Source: Nachrichten
