Press release: 12.746-044/22

Inflation increased to 5.0% in January 2022 (HICP: 4.5%)

Vienna, 2022-02-23 – In January 2021, the inflation rate was 5.0%, as Statistics Austria reports (December 2021: 4.3%). Expenditures for transport (+11.3% compared to January 2021, including fuels +29,6%) proved to be the most important price driver, followed by expenditures for housing, water and energy (+5.8%, including gas +37.2%, heating oil +45.8%). The consumer price index (CPI 2020) was at 105.3, while the average price level decreased by 0.1% compared to December 2021.

"At the beginning of 2022, the year-on-year inflation rate rose to 5%, the highest level since December 1984. The increase in fuel prices was somewhat less massive in January than in December 2021, but still made a significant contribution to inflation. The price increase for household energy remained unbroken. Compared to the previous month, prices fell by 0.1% on average," explains Statistics Austria Director General Tobias Thomas.

The index level of the harmonised index of consumer prices (HICP 2015) was 113.92 in January 2022 with a harmonised inflation rate at 4.5%.

For more detailed information please refer to the German version.