Inflation in Austria remained at a high level of 4.0 percent in September. According to a quick estimate by Statistics Austria, the inflation rate decreased only slightly, from 4.1 percent in August.

Inflation in September slightly decreased to 4.0 percent

The strongest price driver was once again the service sector, with a price increase of 4.7 percent. Prices in Austria have been rising more sharply than in the Eurozone for some time, for which the ECB aims for an inflation rate of just under 2.0 percent.

One reason for the higher inflation this year is the energy subsidies that the federal government discontinued at the beginning of the year. According to Statistics Austria, energy cost 7.9 percent more in September than a year ago, compared to 5.9 percent in August, mainly because fuels no longer had a price-dampening effect, as Manuela Lenk, Director General of Statistics Austria, explained in a statement.

(APA/Red)

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