After falling three times in the months of October to December last year, inflation in Austria picked up pace again in January 2023 at 11.1%

February 9, 2023

The inflation rate for January 2023 is expected to be 11.1 %, according to calculations by Statistics Austria as part of a flash estimate. Compared to the previous month, consumer prices rise by 0.8 %.

“After falling three times in the months of October to December last year, inflation picked up pace again in January 2023 at 11.1 %. The main reasons for this are strong price increases for household energy, despite the electricity price brake: The background is that the measures to contain network costs, which have now risen sharply, are not expected to take effect until March. In spite of the electricity price brake, the full value-added tax also applies. In contrast, fuel prices rose comparatively slightly in January,” says Statistics Austria Director General Tobias Thomas.

Consumer Price Index (CPI), January 2023
• +11.1 % yearly rate of change (estimate)
• +0.8 % monthly rate of change (estimate)

Harmonised Index of Consumer Prices (HICP), January 2023
• +11.5 % yearly rate of change (estimate)
• +0.8 % monthly rate of change (estimate)

Source: Statistics Austria
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