Austria Inflation Highest Since September 1975

(RTTNews) - Austria's consumer price inflation rose to the highest level since September 1975, preliminary estimates from Statistics Austria showed on Friday.

Consumer prices rose 8.7 percent yearly in June, following a 7.7 percent increase in May.

"In addition to recent increases in fuel and heating oil prices, we also see significant increases in restaurant and food prices," Tobias Thomas, director general at Statistics Austria, said.

The EU measure of harmonized index of consumer prices, or HICP, gained 8.7 percent annually in June, following a 7.7 percent rise in the preceding month.

On a monthly basis, consumer prices increased 1.4 percent monthly in June, following a 0.8 percent rise in the prior month.

On month-on-month basis, the HICP gained 1.2 percent in June.