Austrian economic news in a flash

(The most important economic news in Austria from 15 September)
 
Telekom Austria (TA) has taken over Bulgarian Internet suppliers Megalan Network AD and Spectrum Net AD for EUR 83m. The deal is awaiting regulatory approval in Bulgaria. With the takeovers, Mobiltel, the local TA unit, aims to become a fully integrated telecommunications provider. The company plans to take advantage of the estimated great potential in the development of Bulgaria's broadband Internet market.

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Austria's annual inflation rate decreased to 1.7% in August, its lowest level since February this year. In July the rate was 1.9%. The prices were boosted by home, water and energy costs, as well as by transport expenses. In a monthly comparison, the inflation rate was 0.2%. The EU-harmonised consumer price index came in at 1.6%, Statistik Austria said.

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Austria's index for construction of residential buildings costs rose 3.4% to 119.8 points in August, the country's statistical office said.