Press release: 12.221-061/20

Inflation decreased to 1.6% in March 2020 (HICP: 1.6%)

Vienna, 2020-04-17 – In March 2020, the inflation rate was 1.6%, as Statistics Austria reports (February 2020: 2.2%). Lower prices for fuels were mainly responsible for the decrease of the March inflation rate. Price increases for housing, water and energy (+2.4% compared to March 2019) remained the most important price driver, followed by those for restaurants and hotels (+3.2%). The index level of the consumer price index 2015 (CPI 2015) was 108.1 in March 2020. Compared to the previous month, the average price level increased by 0.3%.

The measures against the spread of the corona virus had only a very limited impact on the calculation of the March inflation rate. The price surveys for the consumer price index were mainly carried out in the first half of the month, before the COVID-19-related shop and business closings.

The index level of the harmonised index of consumer prices (HICP 2015) was 108.50 in March 2020, with the harmonised inflation rate amounting to 1.6%.

For more detailed information please refer to the German version.