Austria: Stagnation in inflation numbers - ING

Inga Burk, Economist at ING, notes that the Austrian inflation was unchanged in August but for the last quarter of the year, however, consumer prices should slightly accelerate again

Key Quotes

“For the fourth month in a row inflation remained unchanged at 0.6%YoY. As in the months before, expenses on restaurant services and accommodation were driving prices with catering services contributing the largest share. Fuels continued to serve as the main price dampener, although at a somewhat lower pace (-8.4%, from -10.4% in July).

On a monthly basis, inflation decreased by 0.2% compared to July with clothing and footwear being the main price dampener due to summer sales. Turning to the HICP measure of inflation, prices declined by 0.2%, while the annual inflation rate remained unchanged at 0.6%YoY.