emirates7 - Austria’s inflation rate edged up to 3.1% year-on-year in April, slightly higher than the 2.9% recorded in March, according to a preliminary estimate from Statistics Austria. The rise was mainly driven by increased costs for package holidays and various services, which continue to be the dominant inflationary force.

“Services remained the main inflation driver, with a 4.8% annual increase,” the agency noted, adding that their influence on overall inflation has grown even stronger.

Prices for food, alcohol, and tobacco rose by 3.2%, slightly surpassing the headline inflation rate. Industrial goods saw a more modest increase of 0.9%, while energy prices were up just 0.7%. Statistics Austria’s Director General Tobias Thomas explained that a notable in fuel prices helped to offset the impact of higher electricity costs.

The Harmonised Index of Consumer Prices (HICP)—used for EU-wide comparisons—climbed 3.3% year-on-year and increased 0.3% from the previous month.