Latest reading: Consumer prices increased 2.9% on a year-on-year basis in August, following a 3.1% increase in the prior month....
Inflation in Austria
Harmonized consumer price inflation averaged 3.0% in the ten years to 2024. The 2024 average figure was 2.9%. For more inflation information, visit our dedicated page.
Austria Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Austria from 2024 to 2023.
Source: Macrobond.
Austria Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 1.4 | 2.8 | 8.6 | 7.7 | 2.9 |
| Inflation (HICP, ann. var. %, eop) | 1.0 | 3.8 | 10.5 | 5.7 | 2.1 |
Harmonized inflation rises to over one-year high in July
Latest reading: Harmonized inflation increased to 3.7% in July from June’s 3.2%. July's reading represented the highest inflation rate since March 2024. Looking at the details of the release, prices for food, housing and utilities, hospitality and transport increased at a faster pace in July. The trend pointed up mildly, with annual average harmonized inflation coming in at 2.8% in July (June: 2.7%). Meanwhile, consumer price inflation rose to 3.6% in July from the previous month's 3.3%. Lastly, harmonized consumer prices rose 0.07% in July over the previous month, a smaller increase than June's 0.27% increase.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Austrian inflation projections for the next ten years from a panel of 21 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Austrian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Austrian inflation projections.
Want to get access to the full dataset of Austrian inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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