VIENNA: Austrian inflation rose to 7.7% in May, the highest level since April 1976, a state agency announced
According to the Xinhua news agency, Statistics Austria announced on Friday that the May inflation rate was 0.5 percentage points higher than the April figure.
Tobias Thomas, director-general of Statistics Austria said, the primary drivers of inflation in May were rising energy, fuel, and food costs.
The Austrian government announced a hefty package of long-term measures on Tuesday to battle rising inflation, including raising social payments for the unemployed and other vulnerable groups.
The anti-inflation plan is anticipated to cost 6 billion euros (USD6.28 billions) this year, with a total cost of 28 billion euros by 2026.
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