Austrian government plans cap on rent increases to cushion the impact of inflation

The Austrian government has presented a series of measures meant to counter the impact of inflation. They include a three-year cap on rent increases for many apartments and a freeze on fees to use highways. The package presented on Wednesday foresees a 5% cap on annual rent increases in 2024-2026 even if inflation is higher than that. According to the government, the cap will prevent hikes of some 15% next year in some public housing. Austria’s annual inflation rate stood at 7% in July. The government’s package also caps the cost of the sticker that cars must have to use Austria’s highways at 96 euros ($104) per year, rather than increasing it with inflation. T