Inga Burk, Economist at ING, notes that Austria’s headline inflation remains at 1.9% YoY in June as base effects fade.
“As was the case in the summer of last year, inflation remained stable in June, coming in at 1.9% YoY according to the Austrian statistical agency. While catering services, food and rents continued to be important price drivers, fuels had almost no price effect. Excluding the price drivers, inflation would have come in at 1.1%.”
“On a monthly basis, prices increased by 0.1%, with expenditure on leisure and culture having the largest impact as package trips become seasonally more expensive. The HICP measure of inflation came in at 2.0% YoY in June from 2.1% YoY in May.”
“With price pressures from fuels easing, headline inflation might have already reached its peak for this year. Nevertheless, we expect inflation for the remaining months of the year to hover close to the 2% level, as the service sector (particularly catering and accommodation services) remains an important price driver.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.