The consequences of the war in the Middle East have pushed inflation in Austria to higher levels again. According to Statistics Austria, inflation in April was 3.4 percent, after inflation was 0.2 percentage points lower in March. This means that inflation in this country has moved further away from the two percent target value of the European Central Bank (ECB). “Increased fuel and heating oil prices are responsible for around one percentage point of inflation – almost a third of the price increase,” explains Manuela Lenk, General Director of Statistics Austria. “A further 0.2 percentage points higher inflation was prevented by the introduction of the fuel price cap.” Food inflation, however, was below overall inflation.
