According to a quick estimate by Statistics Austria, the inflation rate is likely to be 8.7 percent. Compared to the previous month, the price level is expected to rise by 1.4 percent. In May, prices were 7.7 percent higher than a year ago. The inflation rate has thus reached its highest level since September 1975.
“In the meantime, inflation has picked up speed in almost all areas,” said Statistics Austria Director General Tobias Thomas on Friday, according to the announcement. “In addition to renewed increases in fuel and heating oil prices, we are also seeing significant price increases in restaurants and in the food trade.”
According to a preliminary flash estimate, the harmonized index of consumer prices (HICP) also rose by 8.7 percent year-on-year. Compared to the previous month, the price level according to the HICP rose by 1.2 percent.
Source: Nachrichten
