Austria’s inflation falls to 1.8 pct, lowest level since February 2021

VIENNA, Oct. 17 (Xinhua) — Austria’s inflation rate fell from 2.3 percent in August to 1.8 percent in September, the lowest level since February 2021, Statistics Austria said on Thursday.
This marks the first time since April 2021 that Austria’s annual inflation rate has fallen below the 2-percent medium-term inflation target set by the European Central Bank.
Tobias Thomas, director-general of Statistics Austria, attributed the falling inflation mainly to lower fuel and heating oil prices compared to last September.
However, Thomas noted that prices in restaurants continued to rise at a rate higher than the general inflation, up 5.8 percent from the same month last year. Food prices have recently increased significantly again as well.
High inflation has plagued Austria over the past few years, with the country’s inflation rate ranking among the highest in the eurozone. ■