Inflation In Austria Expected To Drop To 10,6% In November - Statistical Office

MOSCOW (Pakistan Point News / Sputnik - 30th November, 2022) Inflation in Austria in November may reach 10.6% down from the 11% in October, according to preliminary data released by the Federal statistical office Statistics Austria on Wednesday.

"After reaching 11.0% in October 2022, the highest inflation rate in 70 years, it is expected to ease to 10.6% in November 2022. 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 Tobias Thomas said in a statement.

The final data on inflation in November will be published by the Austrian statistical office in mid-December.

In early September, Vienna announced a freeze in electricity prices which is expected to be in force from December 1, 2022, until June 30, 2024. The authorities plan to offer partial compensation for people's electricity costs within a consumption limit of 2900 kWh. The measure would allow a household to save around 500 Euros ($518) per year. Additional support will be provided to low-income citizens and families with children.