4.5 percent inflation: the population has lost ten billion euros in purchasing power in two years – economic policy

2024-02-22 08:02:58

Austria started 2024 with a declining inflation rate. According to Statistics Austria, goods and services cost 4.5 percent more in January than a year ago, which is the lowest value since the end of 2021. In December, price inflation was still at 5.6 percent. The decline is largely due to household energy prices – especially electricity prices, which were significantly higher a year ago due to the sharp increase in network costs. “There continued to be significant price increases in restaurants and hotels,” says Statistics Austria General Director Tobias Thomas.

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