Image: VOLKER WEIHBOLD
In January 2024, inflation fell to 4.5 percent, the lowest value since December 2021, Statistics Austria announced on Thursday. In December, inflation was still 5.6 percent.
- Also read: Food prices are expected to rise by 5.25 percent in 2024
The main reason for the sharp decline were reductions in household energy and, in particular, electricity prices. Fuel prices have also not risen as sharply as in previous months.
Rents rose by 9.1 percent
However, there were still significant price increases for restaurants and hotels, averaging 9.1 percent. This made them the most important driver of inflation year-on-year. Rents also rose by an average of 9.1 percent. Prices for food and non-alcoholic drinks rose by an average of 5.4 percent, slightly less than in December.
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Source: Nachrichten
