Vienna, May 1, 2021 – Official data showed a continued decline in the inflation rate in Austria, recording 3.5% last April, the lowest rate since September 2021, according to figures from the Austrian Statistics Authority.
Tobias Thomas, Director General of the Austrian Statistics Authority, attributed this to a significant decline in gas prices, and said, “For the first time since 2020, gas prices have fallen significantly below the level of the previous year.”
He pointed out the dampening effect of the decline in tourist travel prices on inflation in Austria.
On the other hand, he explained that high fuel prices and the increase in the prices of services provided in the restaurant and café sector are still among the most prominent drivers of high prices and the inflation rate in Austria.
Magnus Brunner, Minister of Finance of Austria, expected annual inflation to fall by half in the current year 2024 compared to the previous year.
Martin Kushner, Minister of Economy and Labour, also pointed to the easing of inflationary pressures and the positive impact of the government’s recent measures to reduce gas prices, and said that “lower gas prices are now reaching consumers.”
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