Austria's inflation surges to 4.1 pct in August

Alsharq Tribune  - AFP

Austria's inflation surge continued, with the year-on-year rate standing at 4.1 percent in August, a flash estimate reported on Tuesday.

"This is the highest level since March 2024. Almost all expenditure groups in the basket of goods contributed to this increase," said Manuela Lenk, director general of statistics at Statistics Austria. In July, the country posted an inflation rate of 3.6 percent.

During the period, service prices rose by 4.7 percent, continuing to contribute the most to inflation, while prices for food, tobacco, and alcohol increased by 5 percent, Lenk said.

The core inflation, which covers the aggregate industrial goods and services, amounted to 3.8 percent in August, up from 3.4 percent in July.

The country's August inflation exceeded the eurozone average level. According to Eurostat's flash estimate released on Tuesday, the eurozone annual inflation edged up to 2.1 percent in August.