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Austria Inflation Highest Since November 1981

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Austria’s consumer price inflation increased to the highest level since November 1981, driven by fuel and energy prices, preliminary estimates from Statistics Austria showed on Friday.

Consumer prices rose 6.8 percent yearly in March, following a 5.9 percent increase in February.

“Recent increases in fuel and energy prices are continuing to fuel inflation,” Tobias Thomas, director general at Statistics Austria, said.

The EU measure of harmonized index of consumer prices, or HICP, rose 6.7 percent annually in March, following a 5.5 percent increase in the preceding month.

On a monthly basis, consumer prices increased 2.0 percent monthly in March, following a 1.3 percent growth in the prior month.

On month-on-month basis, the HICP grew 2.3 percent in March, following a 1.3 percent rise in the previous month.

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