Austria: Inflation rose to 6.8 percent in March

The annual inflation rate was 6.8 percent in March. That’s up from February average price level according to calculations by Statistics Austria 2,1 Percent.

“After the outbreak of war in Ukraine, life in Austria became more expensive than it had been in over 40 years,” said Statistics Austria Director General Tobias Thomas. The last time inflation was higher was in autumn 1981.

Praisesonce again the sources of energy were more important. Fuel costs about half as much as a year ago, and the increase in household energy is a good third. In particular, the gas prices, which have risen sharply internationally, are making themselves felt. While electricity cost around 17 percent more, gas increased by 72 percent and district heating by 12 percent. Heating oil prices have more than doubled since March 2021.

The prices for used cars also rose above average (+16 percent), for new cars the price increase was a comparatively low 6.8 percent. Food and non-alcoholic beverages increased in price by 5.8 percent. Clothing and shoes were almost stable in price.

By Editor

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