Press release: 12.303-143/20

Inflation increased to 1.7% in July 2020 (HICP: 1.8%)

Vienna, 2020-08-19 – In July 2020, the inflation rate was 1.7%, as Statistics Austria reports (June 2020: 1.1%). Clothing prices pushed the inflation rate to a higher level due to less significant summer sales this year. Fuels remained the most important price damper. Housing, water and energy (+2.3% compared to July 2019) remained the most important price driver, followed by expenditures for restaurants and hotels (+3.3%). The index level of the consumer price index 2015 (CPI 2015) was 108.2 in July 2020. Compared to the previous month, the average price level increased by 0.2%.

Just like in June 2020, the measures to contain COVID-19 in July only had a small impact on the calculation of the inflation rate. Imputation methods like seasonal imputation were used for a few items in the tourism sector and all items imputation for a few services in the entertainment sector; this affected about 4.1% of the weight of the basket of goods and services. For further in-depth explanation of the general principles and applied computation rules, please refer to the methodological information note on the compilation of the CPI in the context of COVID-19.

The index level of the harmonised index of consumer prices (HICP 2015) was 108.18 in July 2020, with the harmonised inflation rate at 1.8%.

For more detailed information please refer to the German version.