FX.co ★ Austria Inflation Lowest Since June 2022

Austria's consumer price inflation in May fell to the lowest level since June 2022, preliminary estimates from Statistics Austria showed on Thursday.

The consumer price index fell 8.8 percent yearly in May, following a 9.7 percent increase in April.

"The main reason for this decline is the uninterrupted downward trend in fuel prices," Tobias Thomas, director general at Statistics Austria, said.

"The upward trend in food prices continues to weaken."

The EU measure of harmonized index of consumer prices, or HICP, gained 8.7 percent annually in May, following a 9.5 percent rise in the preceding month.

On a monthly basis, consumer prices increased 0.1 percent monthly in May, following a 0.8 percent rise in the prior month.

On month-on-month basis, the HICP gained 0.1 percent in May, following a 0.9 percent rise in the prior month.