Data from Statistics Austria showed on Thursday that the consumer price index rose 3.2% year on year in August, compared with 2.8% in July, driven by higher fuel and heating gas prices and in line with the preliminary estimate published on September 1.
Transport costs lead the increase
Transport price inflation rose to 7.8% in August from 6.4%, driven by a 26.3% jump in fuel costs. Annual growth in housing and utilities prices also accelerated to 3.3% from 2.8%.
Food tax cut curbs price pressures
Manuela Link, director of general statistics at Statistics Austria, said a reduction in value-added tax on staple foods from 10% to 4.9% helped ease price pressures.
On a monthly basis, consumer prices in Austria rose 0.6% in August, according to the estimate.
