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Fuel prices rose 14.3% year-on-year in June. But also the costs of housing, water and energy have increased
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The inflation rate for June 2018 was 2%, according to Statistik Austria, 9 percent. The main reasons for this increase are the significant increases in fuel prices. Housing, water and energy spending group is the second strongest price factor. A year earlier, inflation had reached 1.3%.
Transportation expenditures increased an average of 4.1% yoy and had an impact on overall inflation of +0.49 percentage points. This was mainly due to fuels, which rose 14.3% in June. Repairs to private means of transportation cost 2.8% more, airline tickets 1.8% less.
Also housing and food more expensive
For apartment, water, energy had to be paid on average 2.2% more . Rents rose 3.6%, domestic energy rose 2.9% in total.
Restaurants and hotels grew an average of 2.9%. Spending on food and non-alcoholic beverages increased by an average of 2 percent – the main reason being the 3 percent increase in food prices such as micl, cheese and eggs. Oils and fats increased by 11 percent (including butter + 22.9 percent).
Main factor of price mitigation The months of June and May were expenditures for clothing and footwear. Footwear -2.4%).
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