"This is the highest value since March 2024. Almost all expenditure groups contributed to this increase," said the Director General of Statistics Austria, Manuela Lenk, regarding the inflation in August. In July, the inflation rate was 3.6 percent. The energy sector recorded a particularly strong increase with a plus of 5.9 percent.

Inflation in August: Increase in Electricity Prices and Services

On one hand, fuel prices had a significantly less dampening effect on prices than recently, and on the other hand, electricity prices continued to rise. The biggest influence on inflation in August was once again services, which increased by 4.7 percent. This was followed by food, tobacco, and alcohol, whose prices rose by 5.0 percent.

Core Inflation at 3.8 Percent

Core inflation, consisting of industrial goods and services, was at 3.8 percent in August. Compared to the previous month of July, the consumer price index (CPI) rose by 0.2 percent. The EU-wide comparable harmonized consumer price index (HCPI) was also at 4.1 percent in August according to the flash estimate, with the index rising by 0.3 percent compared to the previous month of July.

(APA/Red)

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