VIENNA, June 2 (Xinhua) -- Austria's inflation rate is expected to reach 3.7 percent in May, up from 3.4 percent in April, according to a flash estimate released by the authority on Tuesday.
"This increase of the inflation rate compared to April is largely attributable to rising prices for services, which remain the main driver of inflation," said Manuela Lenk, director general statistics at Statistics Austria.
Prices in the services sector surged by 4.4 percent, up from 4.1 percent in April, partly driven by significant increases in airline ticket prices.
Industrial goods also recorded a marked acceleration in price growth of 1.4 percent in May, following a more moderate increase of 0.8 percent in April.
Energy prices presented a mixed picture. Compared with the previous month, diesel and heating oil prices declined, while gasoline prices increased moderately. Overall, these three energy components exerted slightly less upward pressure on inflation in May than they did in April.
Meanwhile, prices for food, tobacco, and alcohol rose by 2.4 percent in May, slightly below the 2.6 percent increase recorded in April. ■