Austrian inflation stands at lowest rate since 2009

The Austrian inflation rate for the month of January dropped to 0.6 percent, marking the lowest rate seen since 2009, Statistics Austria reported on Tuesday.

The December 2014 rate was 1 percent, with the continued drop largely due to low fuel prices, which if left out of the calculations would have doubled the eventual rate, the statistics office stated.

Significant price increases were seen in the category of housing, water and energy with an average price increase over a year of 1.1 percent, and notable cost increases in district heating of 5.7 percent, and rent increases of 5.2 percent.

In the category of food and non-alcoholic beverages, the average price increased 0.3 percent year-on-year, with a notable 1.6 percent increase in the cost of dairy products, and a 0.4 percent increase in the price of meat. Vegetables, however, cost 2.4 percent less.

The so-called micro basket, a selection of goods that represent typical daily shopping purchases, rose 0.8 percent, while the mini basket, representing typical shopping purchases made weekly, decreased 2.2 percent particularly due to the cheaper fuel prices. Endit