This was reported by Statistics Austria. Accordingly, there was a lower increase in prices for food and catering than recently, although electricity and fuel prices were now slightly driving up inflation once more. Without spending on housing, restaurants and hotels, inflation would have been 2.3 percent.
For comparison: Inflation in the euro area was 2.4 percent in the previous month. In Germany it ended up at 2.2 percent, in Italy there was only an increase in consumer prices of 1.2 percent. The situation is completely different in Argentina, where the increase was over 280 percent, a worldwide record. 3.5 percent were registered in the USA, 3.2 percent in Great Britain, and 68.5 percent in Turkey in March.
The price level of the mini shopping cart rose to 5 percent
The prices for housing, water and energy in Austria rose by an average of 4.2 percent year-on-year in March; the increase for food and non-alcoholic drinks was 3.4 percent. New vehicles became more expensive by 3.4 percent, used vehicles became cheaper by 6.7 percent. The main price driver compared to the previous month of February 2024 was more expensive clothing items (plus 10.8 percent). The main reason for this was the switch to the current spring and summer collections, which replaced almost all winter sales items, according to the statisticians.
The price level of the micro shopping basket, which reflects daily shopping and mainly contains food, but also daily newspapers or coffee in the coffeehouse, rose by 4.9 percent year-on-year in March. The price level of the mini shopping basket, which represents a weekly purchase and includes food and services as well as fuel, rose by 5.0 percent year-on-year.
