Values for April

Inflation falls slightly – gastronomy particularly expensive

People are having to put bigger and bigger bills on the table for their daily shopping.(Bild: APA/Monika Skolimowska)

Inflation in Austria continues to weaken. In April, the year-on-year inflation rate was 3.5 percent, the lowest level since September 2021. The rise in prices in restaurants and hotels (+7.6 percent) was the most significant driver of inflation. 

For the first time since the sharp rise in consumer prices began in 2021, gas prices had a "significant dampening effect" on inflation, according to Statistics Austria. With inflation of 3.5 percent, Austria is still among the worst performers in the eurozone.

"Package tours also contributed significantly to the decline in inflation in April, instead of having a strong price-driving effect as in the previous twelve months," said Statistics Austria Director General Tobias Thomas in a press release on Friday.

However, the price increases in the food service industry "continue to be above average" and the price increase at petrol stations "has even increased."

Purchasing increasingly expensive
The price level of the micro shopping basket, which is intended to reflect daily shopping and mainly contains food, but also daily newspapers and coffee in coffee shops, rose by 4.3 percent year-on-year in April. The price level of the mini shopping basket - weekly purchases including food, services and fuel - rose by 4.9% year-on-year.

According to Statistics Austria, the average price level in Austria rose by 0.1% compared to the previous month of March.