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Austrian Inflation Drops To 14-Month Low

Austria's consumer price inflation slowed to the lowest level in fourteen months in March, data released by Statistics Austria showed Tuesday.

The consumer price index increased 2.4 percent on an annual basis in March, slower than the 2.6 percent growth seen in February. The latest growth rate was the weakest since January 2011, when consumer price rose 2.4 percent.

Food and non-alcoholic beverages prices advanced 2.9 percent annually, while clothing and footwear prices edged up 0.7 percent. There was a 3.4 percent annual rise in housing costs and utility prices during the month, and a 3 percent gain in transportation costs.

On a monthly basis, consumer prices moved up 1.1 percent in March, faster than the previous month's 0.5 percent increase.

At the same time, the harmonized index of consumer prices (HICP), measured under the EU methodology, increased 1.2 percent month-on-month in March, taking the annual growth to 2.7 percent, the agency said.

by RTTNews Staff Writer

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