Below ECB target value

Inflation down to 1.8 percent in September

As expected in the flash estimate, inflation in Austria fell from 2.3% in August to 1.8% in September. This means that inflation fell below the ECB's target value of two percent for the first time since April 2021.

The 1.8 percent inflation rate is the lowest figure for a good three and a half years. Compared to August, the average price level fell by 0.1%.

The fact that the general price level has now fallen to its lowest level since February 2021 is mainly due to the lower fuel and heating oil prices compared to the previous year, according to Tobias Thomas, Director General of Statistics at Statistics Austria, quoted on their website.

Here you can see how inflation has developed in Austria since 2023:

Price rises in the catering sector continued to outpace general inflation, while food prices grew less strongly than overall inflation but have recently increased significantly again.