Australia Posts Modest Drop in September Inflation
(MENAFN) Austria's annual inflation rate eased slightly to 4.0% in September, down from 4.1% in August, according to a preliminary estimate published Wednesday by Statistics Austria.
Despite the overall slowdown, the services sector continued to exert the most upward pressure on prices.
"Once again, the strongest price driver was the service sector, with a price increase of 4.7 percent," said Manuela Lenk, director general of statistics at Statistics Austria.
Food, alcohol, and tobacco saw more moderate inflation in September, with prices rising 3.8% year-on-year, a noticeable deceleration from August’s 5.0% increase, the agency reported. Price growth also slowed in industrial goods.
However, energy costs bucked the trend, accelerating sharply. September saw a 7.9% annual increase in energy prices, up from 5.9% in the previous month.
"Electricity remained expensive and fuel no longer had a dampening effect on prices," Lenk noted.
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