Inflation in Austria in May can reach 47-year high

Finance
  • 31 May, 2022
  • 08:26
Inflation in Austria in May can reach 47-year high

Annual inflation in Austria in May can be the highest since September 1975, Report informs referring to the Federal Statistical Office Statistik Austria.

Thus, the inflation rate was 8%. Compared to the previous month, prices are expected to rise by 1.1%.

“Rising energy and fuel prices continue to determine inflation. The last time we saw higher inflation in Austria was in September 1975,” said Tobias Thomas, CEO of Statistik Austria.

Annual inflation in Austria in April was the highest since October 1981, reaching a level of 7.2%.