Monday, July 4, 2022

Inflation horror: now inflation is climbing to a 40-year high!

Inflation horror: now inflation is climbing to a 40-year high!

Many Austrians ask themselves: how am I supposed to afford my life? Inflation in Austria rose to 7.2 percent in April! Above all, things that are necessary for (surviving) explode to the highest value since 1981! Prices are rising and rising – and there is currently no end in sight.

editorial staff
18 May 2022 11:50

“We last saw such a high inflation rate in Austria in October 1981. At that time, oil prices had risen sharply as a result of the first Gulf War. In addition to fuels and energy products, rising food prices are currently also responsible for the rise in inflation,” says Statistics Austria Director General Tobias Thomas in the course of the publication of the current figures.

Fuel prices are primarily to blame

In a year-on-year comparison, transport prices rose by an average of 17.7 percent and thus noticeably more than in March (+15.9 percent). They thus continued to be the strongest price drivers year-on-year. The main reason for this was fuel prices, which were 49.1 percent higher than a year ago. Used motor vehicles went up by 19.2 percent and new ones by seven percent.

The curve of horror: Life in Austria is getting more and more expensive!

Food exploded by 8.4 percent – and thus significantly more than in March. This was particularly evident in the price development of meat with up to 10 percent. Bread and cereal prices rose 8.2 percent, while vegetable prices rose 10.1 percent. Milk, cheese and eggs together cost 6.9 percent more. Fruit prices increased by 6.9 percent and oils and fats by 18.2 percent.

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