In a significant development for Austria's economy, the Consumer Price Index (CPI) has seen a notable decline, dropping to 1.80% in October 2024. This marks a substantial decrease from the previous rate of 2.32% recorded in August 2024. The latest figures were updated on 1st October 2024.
This year-over-year comparison highlights a deceleration in inflationary pressures in Austria. The previous indicator measured the change in prices from one year prior, reflecting a consistent trend through August. In contrast, the current indicator underscores a more pronounced moderation in price increases when comparing October 2024 to the same month in 2023.
The drop in the CPI could signal relief for consumers facing high prices, potentially alleviating some economic pressure on households. However, it may also prompt further analysis and action by fiscal policymakers to sustain and manage economic growth.