22.02.201906:59:00UTC+00Austria Inflation Lowest Since Dec. 2016

Austria consumer price inflation eased marginally in January to its lowest level in over two years, figures from Statistics Austria showed on Friday.

The consumer price index climbed 1.7 percent year-on-year in January, following a 1.9 percent rise in December.

The latest inflation rate was the lowest since December 2016, when price growth was 1.4 percent.

The modest slowdown in January was led by a weaker price increase for fuels. Meanwhile, higher utility costs were the main price driver, followed by restaurants and hotels.

Utility costs rose 2.5 percent and prices at restaurants and hotels grew 2.9 percent. Transport costs climbed 0.8 percent.

Month-on-month consumer prices fell 0.8 percent in January.

Inflation, based on the harmonized index of consumer prices, rose 1.7 percent annually in January, same as in December.

Compared to the previous month, the HICP fell 1.1 percent in January.