Inflation declines and the tourism sector continues to recover in Austria
Vienna, May 19 / WAM / The Austrian Statistics Authority confirmed its preliminary estimates regarding a decline in the inflation rate, which fell to 3.5% last April, compared to 4.1% on a monthly basis, attributing the reason for this to the significantly lower gas prices.
The final official figures showed the impact of the rise in the prices of some sectors’ services on the inflation rate in Austria, where the hotels and restaurants sector came in first place. Due to the increase in the prices of services for the two sectors above average by 7.6%, increases in fuel prices came in second place by 5.2%, before increases in housing, household energy and water prices by 3.2%, and an increase in food prices by the same percentage.
The results of the latest economic study conducted by Austria Bank confirmed the continued recovery of the tourism sector, which last year, 2023, recorded a new record for the number of tourist nights, which exceeded the record level recorded in 2019 before the outbreak of the Corona epidemic, as the tourism sector achieved revenues worth €30.8 billion in domestic and international tourism traffic, an increase of €3.5 billion or 12.5% compared to 2019 revenues.
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