Austria Inflation Rises To 4.1% In November

(RTTNews) - Austria's consumer price inflation increased slightly after remaining stable in the previous month, a flash estimate from Statistics Austria showed on Tuesday.

The consumer price index climbed 4.1 percent year-over-year in November, faster than the 4.0 percent increase in October.

Nonetheless, the inflation rate is well above the European Central Bank's stability target of 2.0 percent.

The rise in inflation was mainly driven by a 10.9 percent surge in energy costs, followed by a 4.5 percent growth in service costs. The annual price growth in food, tobacco, and alcohol accelerated 4.4 percent from 4.0 percent in October.

On a monthly basis, consumer prices increased 0.4 percent.

The EU measure of the harmonized index of consumer prices, or HICP, also rose at a slightly faster rate of 4.1 percent versus a 4.0 percent increase in October. Monthly, the HICP increased 0.3 percent.