Austria Inflation July 2022

Austria

Austria: Harmonized inflation moderates slightly in August

September 22, 2022

Harmonized inflation eased to 9.2% in August from 9.4% in July. The moderation was driven by a softer rise in health, transport, and recreation and culture. On the other hand, prices for food and non-alcoholic beverages, clothing and footwear, and housing, water, electricity, gas and other fuels rose at a stronger pace.

That said, the trend pointed up as annual average harmonized inflation rose to 6.2% in August from 5.7% in July. Consumer price inflation, meanwhile, eased from 9.3% in July to 9.0% in August.

Lastly, harmonized consumer prices fell 0.2% in August month on month, swinging from the 0.6% increase recorded in July.

FocusEconomics Consensus Forecast panelists project that harmonized inflation will average 7.6% in 2022, which is up 0.4 percentage points from last month. For 2023, the panel expects harmonized inflation average 4.7%.


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Austria Inflation August 2022 0

Note: Year-on-year and month-on-month changes in the harmonized consumer price index in %.
Source: Statistics Austria (STAT) and Eurostat.


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