People play water sports and go sailing on the Old Danube in Vienna, Austria on June 27, 2022. (Photo by Georges Schneider/Xinhua)
The September inflation rate was 1.2 percentage points above that registered in August and exceeded the high inflation levels "during the oil crisis in the 1970s," according to Statistics Austria.
VIENNA, Oct. 19 (Xinhua) -- Inflation continues to surge in Austria, reaching 10.5 percent in September, the highest level since July 1952, Statistics Austria said on Wednesday.
The September inflation rate was 1.2 percentage points above that registered in August and exceeded the high inflation levels "during the oil crisis in the 1970s," Statistics Austria said in a statement.
People wearing masks are seen at a public transport station in Vienna, Austria, June 1, 2022. (Xinhua/Guo Chen)
Tobias Thomas, director general of Statistics Austria, said soaring household energy and fuel prices were the strongest drivers of inflation in September.
Last week, Austria's central bank (OeNB) revised upwards its inflation forecasts for 2022 through 2024, citing surging energy prices and wage costs. It now expects the country's annual inflation rate to reach 8.5 percent in 2022, up from its projection of 7.6 percent in July.
The Austrian government has introduced several anti-inflation packages to support households and companies, including direct payments to families. However, the OeNB said the packages may fail to have a significant impact. The bank projects 6.4 percent inflation in 2023 and 3.7 percent in 2024. ■
