Inflation rises in Austria
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Prices in Austria are rising. Inflation was 3.7 percent in May. This is higher than in April. It was 3.4 percent in April. Plane tickets are much more expensive. Fuel and heating oil cost more money too. Food prices rise more slowly. But the weekly shopping costs 5.8 percent more.
People change their travel plans. Many save money on holiday. They stay in Austria or Europe often. Long trips are less popular. The money for the holiday shrinks. People plan 1,300 Euros on average. This is 200 Euros less than before. One in 5 people does not travel at all. They cannot afford a holiday.
Some people use holiday money for daily life. They pay bills or rent with it. Inflation is higher in the USA. It is 4.2 percent there. Experts watch the interest rates there closely. The situation in Austria remains tense. The service sector drives the prices up.
People change their travel plans. Many save money on holiday. They stay in Austria or Europe often. Long trips are less popular. The money for the holiday shrinks. People plan 1,300 Euros on average. This is 200 Euros less than before. One in 5 people does not travel at all. They cannot afford a holiday.
Some people use holiday money for daily life. They pay bills or rent with it. Inflation is higher in the USA. It is 4.2 percent there. Experts watch the interest rates there closely. The situation in Austria remains tense. The service sector drives the prices up.
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Definitions
- Inflation
- Inflation means that money becomes less valuable. You get fewer things for the same amount of money. Prices for goods and services rise over time.
- Service sector
- This is work someone does for another person. For example a haircut or service in a restaurant. You buy help or an activity instead of a product.
- Fuel
- Fuel is energy for engines. Examples are petrol or diesel for cars. Vehicles need fuel to move.
People
- Manuela Lenk
- She is the head of Statistics Austria. She explains the numbers about the economy.
- Kevin Warsh
- He is an expert for money policy in the USA.
Locations
- Austria
- A country in Central Europe.
- USA
- The United States of America is a large country in North America.
Sources
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