Austria Inflation Rate

The annual inflation rate in Austria stood at 1.8% in October 2024, unchanged from the previous month and confirming initial estimates.This marks the second consecutive month below the ECB’s stability target of 2.0%. The latest reading also marked the lowest rate since February 2021, mainly due to a slowdown in prices of housing and utilities (0.2% vs 1.5% in September), health (4.1% vs 4.6%), and miscellaneous goods and services (4.9% vs 5.2%). At the same time, deflation continued for transport (-2.3% vs -2.9%) and communication (-5.5% vs -6%). Meanwhile, costs increased for food and non-alcoholic beverages (2.7% vs 2.2%) and alcoholic beverages & tobacco (3.6% vs 2.5%). On a monthly basis, consumer prices rose by 0.3%, rebounding from a 0.1% drop in the preceding period.