Austria experienced a continued decline in consumer price inflation in May, reaching its lowest level in over two-and-a-half years due to reduced housing and energy costs, according to a preliminary report from Statistics Austria released on Friday.
The Consumer Price Index (CPI) increased by 3.3% year-over-year in May, marking a slowdown compared to the 3.5% rise observed in April.
This latest inflation rate is the weakest since September 2021, when prices also grew by 3.3%.
The agency indicated that housing-related consumer prices, particularly those involving energy, are now contributing less to inflation than they have in previous months.
On a month-to-month basis, consumer prices remained unchanged in May.
The Harmonised Index of Consumer Prices (HICP), an EU measure, also saw a slight deceleration, rising by 3.3% compared to April's 3.4%. On a monthly basis, the HICP recorded a modest increase of 0.1%.
