Austrian inflation rate rises to 1.7 %

The Austrian inflation rate has risen slightly from 1.6 to 1.7 percent in November largely on the back of a 5 percent year-on-year increase in rental prices, Statistics Austria said Wednesday.
The category of "Housing, water, and energy" with an average 1.6 percent year-on-year increase contributed the most to the inflation rate, the statistics institute said.
Significant price increases were also recorded in the categories of the "Leisure and culture," as well as the "Restaurants and Hotels," the institute said.
Other significant increases were for food and non-alcoholic drink prices, which increased by an average of 1.5 percent year-on-year, particularly in the sub-categories of fish, milk, cheese, eggs, and bread.
Fuel prices meanwhile saw a significant drop of 4.1 percent compared to November 2013, though transport costs as a whole increased 0.4 percent largely due to an increases in the cost of vehicle insurance tax as well as that of maintenance and repairs.