17.12.201806:58:00UTC+00Austria Inflation Unchanged In November

Austria's inflation remained steady in November, data from Statistik Austria showed on Monday.

The consumer price inflation in November was 2.2 percent, which was the same as in October.

Fuel price inflation slowed, but remained strong at 13.4 percent. Airline tickets were significantly cheaper, but package holiday prices jumped.

The utilities group comprising of housing, water and energy, drove the inflation rate in November, with a price growth of 2.8 percent. Month-on-month, consumer prices rose 0.2 percent. Leisure and culture was the main driver with a monthly gain of 1.4 percent in November.

Inflation, based on the harmonized index of consumer prices, or HICP, fell to 2.3 percent from 2.4 percent in the previous month. On a monthly basis, the harmonized index of consumer prices remained unchanged.

"With Christmas around the corner, spending for leisure, culture, and restaurants will not abate," ING economist Inga Fechner said.

"Yet, with the family bonus kicking in in January, a robust job market, and an ongoing favorable environment, private consumption expenditure remains on a stable basis, contributing to GDP growth also in the new year."

Austrian consumers probably have to deal with a harmonized inflation rate of 2.1 percent for the year, the economist added.