At the beginning of 2021, a new index series was started reflecting the actual consumption pattern of households. This was the tenth revision of CPI since 1945. The previous “Consumer Price Index 2015” was replaced by a series based on 2020; the new index series is thus known as the “Consumer Price Index 2020” (CPI 2020).
The structure of the given consumer price index is determined by the basket of goods and services (selected index items) and their weightings (percentage share of the individual index items within the overall expenditure of an average household).
The selection of goods and services (index items) included in the price survey is designed to represent the average consumer behaviour of Austrian households. Their quantity determines the complexity of the price survey and the depth of detail provided by the analyses. The number of representative index items has increased from 197 goods and services in the CPI 1958 to over 750 goods and services in the new CPI 2020.
The weights for the CPI/HICP were based on data relating to private consumption in the National Accounts for the year 2019and the data of Household Budget Survey 2019/2020. The goods and services in the basket are subdivided into twelve consumption groups (COICOP main groups), based on their intended purpose.
There are different weighting systems. The CPI refers to all expenditures spent by Austrians and is thus compiled according to the resident concept. The HICP is based on the domestic concept and therefore also includes expenditure by foreigners (e.g. tourists) on the Austrian territory. Expenditure on owner-occupied dwellings is still excluded at present from the HICP. A passenger car index (index for private transport) and indexes of daily and weekly purchases are also calculated and published. They all comprise sub-sections of the CPI basket.
Please consult our German Website for tables containing further information.
© STATISTICS AUSTRIA, Last Changed 23.02.2021