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Austria’s inflation in May highest in 46 years News


Austria’s inflation surged to 7.7 per cent in May, the highest level since April 1976, a state agency announced.

Statistics Austria said on Friday that the May inflation rate was 0.5 percentage points higher than that in April, reports Xinhua news agency.

Tobias Thomas, director general of Statistics Austria, said that rising energy, fuel and food prices were the main drivers of inflation in May.

The Austrian government on Tuesday unveiled a massive package of long-term measures to combat the soaring inflation, including increasing social benefits for the unemployed and other vulnerable groups.

The anti-inflation package is expected to cost 6 billion euros ($6.28 billions) this year and 28 billion euros until 2026.

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