Annual inflation in Austria reaches 47-year maximum in July

Annual inflation in Austria in July was the highest since February 1975 - 9.3%, Report informs, citing the Federal Statistical Office Statistik Austria.

“In July 2022, the inflation rate rose to 9.3%. This is the highest inflation rate since February 1975,” said Tobias Thomas, CEO of Statistik Austria.

He noted that, first of all, the prices for fuel, domestic energy, food products and in the field of public catering increased.

“The rise in prices is especially tangible with weekly purchases: the increase in the cost of a mini-basket, which, in addition to food and services, also contains fuel, rose by 19.1% in July, that is, twice as high as general inflation,” he said.