Consumer price index

CPI and HICP overview

The consumer price index (CPI) is a measure of general price trends and of inflation in Austria. The harmonised index of consumer prices (HICP) is the basis for a comparative measurement of inflation in Europe and for evaluating the stability of monetary values within the Eurozone. In addition to its role as a general indicator of inflation, the CPI is used for the valorisation of fixed amounts of money (e.g. rents, living costs), and also provides the data on which wage and salary negotiations are based. Both consumer price indices are thus key indicators for Austrian and European data users. The CPI has been subject to revisions since 1958, and was revised for the seventh time at the beginning of 2006. The previous “Consumer Price Index 2000” was replaced by the series based on 2005=100; the new index series is thus known as “CPI 2005”. Appropriate chaining factors (available in German only) are used to continue previous indices.

CPI/HICP revision 2005

Revisions were previously carried out every 10 years, today they must be conducted at five-year intervals in accordance with EU regulations (EC No. 2494/95). The aim is to adapt the basket of goods and services accordingly so it is representative for the current consumer behaviour of households. The actual baskets for the two consumer price indices, the CPI and the HICP, and their weightings have been revised and redesigned by Statistics Austria in 2005. The basis for the weighting structure is provided by data relating to private consumption from the System of National Accounts for 2004 and the household expenditure survey conducted from September 2004 to September 2005. The new consumer price index series based on 2005=100 starts with the index for January 2006.

In addition to the overall inflation rate and the appertaining index numbers, the CPI provides main groups in accordance with COICOP (Classification of Individual Consumption by Purpose) and federal index numbers for individual goods and services in the basket. It furthermore provides special aggregates such as a price index for pensioners’ households, a price index for private transport and a price index at constant tax rates.

Please consult our German Website for tables containing further information.

Table(s):

CPI inflation rates
HICP inflation rates
Timetable for publication in 2010