Latest reading: Inflation climbed to 11.8% in June from May’s 11.3%, marking the joint-highest rate since August 2023. The reading...
Inflation in Austria
Harmonized consumer price inflation averaged 1.5% 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 falls to lowest level since December 2024 in May
Latest reading: Harmonized inflation came in at 3.0% in May, down from April’s 3.3%. May's reading represented the lowest inflation rate in half a year. Looking at the details of the release, prices for hospitality, housing and utilities, and recreation rose at a softer pace, and prices for transportation dropped after growing in the previous month. Annual average harmonized inflation was unchanged at April's 2.7% in May. Meanwhile, consumer price inflation fell to 3.0% in May from April’s 3.1%. Lastly, harmonized consumer prices fell 0.13% in May over the previous month, contrasting April's 0.27% increase. May's result marked the weakest reading since August 2024.
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.
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