Highest Value in Months: Inflation in June at 3.3 Percent

Inflation increased again in June. According to a quick estimate by Statistics Austria, inflation rose to 3.3 percent compared to the same month last year. This is the highest value since May 2024, Statistics Austria wrote in a release on Tuesday. In May, the inflation rate was 3 percent. The main drivers of price increases were primarily the energy and food sectors, but also services. In the Eurozone, inflation also rose to 2.0 percent in June, up from 1.9 percent in May.

Inflation climbed to 3.3 percent according to quick estimate

In the energy sector, inflation in Austria was 3.5 percent in June. Fuel prices had a less price-reducing effect in June than recently, according to Statistics Austria. Food, tobacco, and alcohol became 4.4 percent more expensive, and services 4.3 percent. Industrial goods increased significantly less, with a plus of 0.9 percent.

Core inflation - that is, inflation for industrial goods and services - was 3.1 percent in June. According to a quick estimate by Statistics Austria, the Harmonized Consumer Price Index (HCPI) is at 3.2 percent.

Eurozone with increased inflation

Inflation also rose in the Eurozone in June. At 2.0 percent, it is now exactly at the target mark of the European Central Bank (ECB). In May, inflation was 1.9 percent. The ECB aims for an inflation rate of 2.0 percent in the medium term, which it considers optimal for the economy in the Euro area.

(APA/Red)

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