Press release: 12.791-089/22

Inflation increased to 6.8% in March 2022 (HICP: 6.7%)

Vienna, 2022-04-21 – In March 2022, the inflation rate was 6.8%, as Statistics Austria reports (February 2022: revised 5.8%). Expenditures for transport (+15.9% compared to March 2021, including fuels +50.7%) proved to be the most important price driver, followed by expenditures for housing, water and energy (+9.7%, heating oil +118.5%, gas +71.9%, %, electricity +16.5%). The consumer price index (CPI 2020) was at 108.8 (February 2022: revised 106.6), while the average price level increased by 2.1% compared to February 2022.

"Since the outbreak of the war in Ukraine, life in Austria has become more expensive than it has been for more than 40 years: the inflation rate was 6.8% in March 2022. The last time inflation was similarly high was in November 1981 with 7.0%. The main price driver in March was a jump in the price of fuel, which had already been a strong price driver in the past. Prices for household energy also continued to rise, especially heating oil prices, which at +118.5% more than doubled compared to the same month of the previous year," explains Statistics Austria Director General Tobias Thomas.

The index level of the harmonised index of consumer prices (HICP 2015) was 118.11 in March 2022 (February 2022: revised 115.40) with a harmonised inflation rate at 6.7%.

For more detailed information please refer to the German version.