Even experts hadn’t expected this. It was probably predictable that inflation in Austria would fall significantly at the beginning of the year, based solely on statistical effects. The extent was surprising. After 3.8 percent in December of the previous year, Statistics Austria announced on Wednesday that inflation was only two percent for January, i.e. 1.8 percentage points less. “Effects from electricity price developments reduced inflation by a full percentage point,” explains General Director Manuela Lenk. “In addition, price inflation weakened in many areas, particularly in services and food.”
