High inflation in Austria to weaken purchasing power: study

08:39, April 20, 2011      

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The continuous rise of Austria's inflation in the past months might stop the upward trend of domestic purchasing power since 2009, a study released by RegioData reported on Tuesday.

In March this year, the Consumer Price Index (CPI) of Austria rose by 3.1 percent, marking a third consecutive monthly increase. The price increase of mineral oil products and food products were the biggest contributors to the higher CPI.

According to RegioData, in real terms, Austria's purchasing power increases in 2009 and 2010 were at 0.5 percent and 0.6 percent, while many European suffered a partly dramatic drop in the two years.

This trend will be broken this year. "In view of the estimated annual inflation of 2.6 percent or even higher, we expect a real decline in purchasing power," said RegioData spokesman Mark Ruhsam on Tuesday.

He also estimated a decline of households' expenditure for clothes, furniture and repairs, as well as the postponement of itineraries.

Source: Xinhua
 
 
     
 
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