Annual Inflation In Austria On Course To Hit Record 10.5% In September - Statistics

MOSCOW (UrduPoint News / Sputnik - 30th September, 2022) The annual inflation rate in Austria may hit 10.5%, which is the highest level since July 1952, according to the provisional data of the Austrian Federal Statistical Office (Statistik Austria), released on Friday.

"The inflation rate thus exceeds the values during the oil crises of the 1970s and rises to the highest level since July 1952, when it was 14.1%," Statistik Austria said.

The major causes of rising inflation are skyrocketing prices for fuel and household energy, according to the agency.

In August, the inflation rate reached 9.3%, hitting a maximum since February 1975.

The final data on inflation in September is expected to be published by the Austrian statistical office on October 19.