Austria Consumer Price Inflation Slows In November

Austria's consumer prices increased at a softer pace in November, preliminary estimates from Statistics Austria showed on Wednesday.

Consumer price inflation eased to 10.6 percent in November from a 70-year high of 11.0 percent in October.

"This is mainly due to the fact that the upward pressure on prices for the main inflation drivers household energy and fuel is weakening slightly", Statistics Austria Director General Tobias Thomas said.

The EU measure of the harmonized index of consumer prices, or HICP, rose 11.1 percent annually in October, after an 11.5 percent gain in the preceding month.

Compared to the previous month, consumer prices increased 0.3 percent in November, after a 1.0 percent growth in the prior month.

On a month-on-month basis, the HICP rose 0.1 percent in November.

Separate data from the statistical office showed that the producer prices gained 18.4 percent yearly in October, after a 22.1 percent growth in September.

The latest producer price inflation was mainly caused by higher prices in the energy sector, up by 48.8 percent and prices for intermediate goods climbed 11.6 percent.

Prices for consumer goods and capital goods went up by 8.0 percent and 4.6 percent, respectively.

On a monthly basis, producer prices remained unchanged in October.

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