Consumer prices rose by 3.6 percent year-on-year this July, more than the quick estimate by Statistics Austria had assumed: They had expected 3.5 percent, the authority announced on Wednesday. Statistics Austria recorded a price increase in food and administrative fees. However, the biggest price drivers continued to be gastronomy and energy - especially electricity.

Increase in Restaurants, Decrease in Clothing and Shoes

The costs for restaurants and hotels increased on average by 5.8 percent. Consumers had to pay 5.7 percent more for housing, water, and energy, while prices for food and non-alcoholic beverages rose by 5.2 percent. Various goods and services became 4.7 percent more expensive year-on-year.

Consumers also had to dig deeper into their pockets for leisure and culture. Here, prices rose by 3.9 percent. With an increase of 0.3 percent, the price increase for transportation was quite moderate. Clothing and shoes, on the other hand, had a dampening effect on inflation - although not as strongly as before. Prices for these products fell by 0.2 percent.

(APA/Red)

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