Austria: Harmonized inflation remains steady in February
Latest reading: Harmonized inflation remained at January’s 3.4% in February, overshooting the ECB 2.0% inflation target for the third consecutive month. Looking at the details of the release, prices for food rose at a faster pace, and housing and utilities price pressures strengthened, fueled by the abolition of the electricity price brake. That said, prices for hospitality, recreation and transportation increased at a softer pace.
Accordingly, annual average harmonized inflation was unchanged at January’s 2.8% in February. Meanwhile, consumer price inflation was steady at January’s 3.2% in February.
Finally, harmonized consumer prices increased 0.50% in February over the previous month, a smaller increase than the 0.89% increase logged in January.