Austria Wholesale Price Inflation Slows In July

Austria's wholesale price inflation grew at a softer rate in July, data from Statistics Austria showed on Friday.

The wholesale prices increased 22.8 percent yearly in July, after a 26.5 percent rise in June.

The latest inflation was the slowest since February, when prices rose 16.3 percent.

"As the increase in wholesale selling prices partly affects consumer prices, this also gives an indication of the further development of general inflation," Statistics Austria Director General Tobias Thomas said.

Prices of solid fuels surged 117.9 percent in July and those of other liquid and gaseous fuels and related products gained 98.5 percent. Prices for fertilizers and agrochemicals, and motor spirit increased by 72.4 percent and 60.7 percent, respectively.

On a month-on-month basis, wholesale prices dropped 1.5 percent in July, after a 2.5 percent growth in the prior month. The decline was the first since December.

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