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Austrian Inflation Rate Slightly Down

Published: August 16, 2012; 16:28 · (Vindobona)

Slight decrease of consumer price inflation to 2.1% in July 2012. In the Eurozone, inflation is stable at 2.4%.

Austrian Inflation Rate Slightly Down / Picture: © Vindobona.org

The annual inflation rate of the consumer price index (CPI 2010) measured by Statistics Austria was 2.1% in July (June 2.2%, May 2.1%). Moderately rising food and fuel prices (each +3% against July 2011) led to a fairly constant annual rate of change of about 2% for the third month in a row. Price increases for "housing, water and energy" remained the key driver of inflation. The all item index (CPI 2010) now stands at 105.5 in July. Compared to June the average price level declined by 0.3%. The annual inflation rate in terms of the harmonized index of consumer prices was 2.1% in July 2012 (June 2.2%), reaching the all item index (HICP 2005) of 115.62 (June 116.18 revised).

The Euro area1 annual inflation was 2.4% in July 2012, stable compared to June2. A year earlier the rate was 2.6%. The EU3 annual inflation was 2.5% in July 2012, also stable compared to June. A year earlier the rate was 2.9%.The onthly inflation was -0.4% in July 2012.

In July 2012, the lowest annual rates were observed in Sweden (0.7%), Greece (0.9%), Germany and Latvia (both 1.9%), and the highest in Hungary (5.7%), Malta (4.2%) and Estonia (4.1%). Compared with June 2012, annual inflation fell in twelve Member States, remained stable in one and rose in fourteen.

The lowest 12-month averages4 up to July 2012 were registered in Sweden (1.0%), Ireland (1.6%) and Greece (1.8%), and the highest in Hungary (4.9%), Estonia (4.6%) and Slovakia (4.1%).

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