Austrian Inflation Eases To 2.9%

(RTTNews) - Austria's consumer price inflation eased in March after remaining stable in the previous month, a flash estimate from Statistics Austria showed on Tuesday.

The consumer price index climbed 2.9 percent year-over-year in March, slower than the 3.2 percent increase in February.

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 4.2 percent rise in costs for services. Prices for food, tobacco, and alcohol grew 3.2 percent annually in March, while energy prices rose at a below-average rate of 2.2 percent.

On a monthly basis, consumer prices moved up 0.2 percent.

The EU measure of the harmonized index of consumer prices, or HICP, also rose at a slower rate of 3.1 percent versus a 3.4 percent increase in February. Monthly, the HICP rose 0.2 percent.