Press release: 12.373-213/20

Inflation decreased to 1.3% in October 2020 (HICP: 1.1%)

Vienna, 2020-11-18 – In October 2020, the inflation rate was 1.3%, as Statistics Austria reports (September 2020 revised: 1.4%). Housing, water and energy (+2.2% compared to October 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 108.6 in October 2020 (September 2020 revised: 108.5). Compared to the previous month, the average price level increased by 0.1%.

The measures to contain COVID-19 in October were the same as in September. They had a very small impact on the calculation of the inflation rate. Imputation methods like seasonal imputation were used for a few items in the tourism sector, while hardly any services in the entertainment sector required all-items imputation anymore. In total, this affected about 3.3% of the weight of the basket of goods and services. For further in-depth explanation of the general principles and applied computation methods, 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 108.94 in October 2020 (September 2020 revised 108.67), with the harmonised inflation rate at 1.1% (September 2020 revised 1.2%).

For more detailed information please refer to the German version.