Austria Inflation Eases To 3.0%

(RTTNews) - Austria's consumer price inflation eased slightly in May, a flash estimate from Statistics Austria showed on Tuesday.

The consumer price index climbed 3.0 percent year-over-year in May, slower than the 3.1 percent increase in April.

Nonetheless, the inflation rate is still above the European Central Bank's stability target of 2.0 percent.

The overall inflation in March was driven by a 4.4 percent rise in costs for services. Prices for food, tobacco, and alcohol grew 3.3 percent annually in March, while energy prices rose at a below-average rate of 1.3 percent amid lower fuel costs.

On a monthly basis, consumer prices edged down 0.1 percent.

The EU measure of the harmonized index of consumer prices, or HICP, also rose at a slower rate of 3.0 percent versus a 3.3 percent increase in April. Monthly, the HICP decreased 0.1 percent.