Austria’s inflation falls to 2.4 per cent, lowest level since April 2021

Vienna, Aug 30 (IANS) Austria’s inflation rate in August is expected to fall further to 2.4 per cent, the lowest level since April 2021, according to a flash estimate released by Statistics Austria on Friday.

Tobias Thomas, director-general of Statistics Austria, said the falling prices for fuels and heating oil in August had “a noticeable dampening effect” on the inflation rate.

High inflation has plagued Austria over the past few years, with the country’s inflation rate ranking among the highest in the eurozone, Xinhua news agency reported.

Austria’s 2.4-per cent inflation rate in August is only 0.2 percentage points higher than the eurozone’s inflation rate in the month, and just 0.4 percentage points higher than the 2-percent medium-term inflation target set by the European Central Bank.

–IANS

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