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Austria Inflation February 2024

Austria: Harmonized inflation falls to lowest level in over two years in February

Harmonized inflation came in at 4.2% in February, down from January’s 4.3%. February’s figure represented the weakest inflation rate since December 2021, but was still markedly above the Euro area average of 2.6%. Looking at the details of the release, prices for food and non-alcoholic beverages rose at the softest pace in over two years, more than offsetting accelerating price pressures for housing and utilities, and for transportation.

Accordingly, the trend pointed down, with annual average harmonized inflation coming in at 6.6% in February (January: 7.1%). Meanwhile, consumer price inflation fell to 4.3% in February, from the previous month’s 4.6%.

Lastly, harmonized consumer prices increased 0.66% in February over the previous month, swinging from January’s 0.36% drop. February’s uptick was the highest reading since September 2023.

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