The preliminary estimate provided by Statistics Austria indicates that the annual rate of inflation most likely reached 10.5 percent in the month of September.
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| [Vienna, Austria] |
In their preliminary forecast for the month of September, the analysts at Statistics Austria have assumed that the annual rate of inflation would be 10.5% higher than it was the year before. It is anticipated that the overall price level would go up by 1.6 percent in comparison to the previous month.
"What this implies is that the inflation rate has above the levels observed during the oil crises of the 1970s and has grown to its highest level since July 1952," the statement stated. "This means that the inflation rate has surpassed the levels experienced during the oil crises of the 1970s." The inflation rate was 14.1 percent throughout the time period.
The significant rise in the cost of heating and cooling a home is the primary contributor to the growth in the consumer price index (CPI). Fuel costs, which have been consistently high, are the second most significant factor contributing to price changes. There has been some modest inflation in the cost of food and restaurants recently. The announcement of the confirmed data as well as more comprehensive findings for the month of September 2022 will take place on October 19, 2022.
According to the Harmonized Index of Consumer Prices (HICP), which is similar throughout the EU, inflation in Austria reached eleven percent in September compared to the same month the previous year. In comparison to the previous month, it represents a 2.5 percent increase. The use of various weights is what causes the disparities between the CPI and the HICP. In addition to that, the HICP takes into account the money spent by visitors from other countries.