Inflation wave rolls over Austria: Inflation rises to 8 percent in 5 minutes

Fuel, electricity, groceries – prices continue to explode and there seems to be no end in sight. According to Statistics Austria, the inflation rate in May is likely to be 8 percent, based on a first flash estimate. Compared to the previous month, the price level is expected to rise by 1.1%.

Highest rate of inflation since September 1975

According to a first estimate, consumer prices rose by 8.0% yoy in May 2022. The increases in energy and fuel prices continue to determine inflation. We last saw a higher rate of inflation in Austria in September 1975,” said Statistics Austria Director General Tobias Thomas. The CPI reading and other results for May 2022 are scheduled to be announced on June 17, 2022.

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