Austria witnesses a significant decline in annual inflation to 2.9%

VIENNA, 15 JANUARY / WAM / The annual inflation rate in Austria declined significantly, from 4.9% to 2.9% last year 2024, compared to an annual basis, and price increases were slower than in previous years, thanks to the decline in household energy prices, which… It had a clear dampening effect on rising prices in Austria.

The latest official figures, issued today by the Austrian Statistics Authority, showed that the inflation rate decreased significantly last year, compared to 2023, which witnessed a record annual inflation rate of 7.8% due to the significant rise in gas and electricity prices.

The Statistics Authority reported that service prices are still the primary driver of prices currently, in reference to the rise in the prices of restaurants, hotels, and personal care.

Tobias Thomas, Director General of the Austrian Statistics Authority, explained that Austria recorded an annual inflation rate that was only 0.5% higher than the European Union average for the year 2024.

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