Inflation Austria 2023
Average inflation: 7.9%
Current Inflation
Inflation is very high at 7.9%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 11.2%. The lowest inflation was in November at 5.3%.
- Highest month
- January: 11.2%
- Lowest month
- November: 5.3%
- Difference
- 5.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Restaurants and hotels with an average of 12.2%. The lowest price increase was in Communication with an average of -4.0%.
- Highest increase
- Restaurants and hotels: 12.2%
- Lowest increase
- Communication: -4.0%
Historical Context
Current inflation is 3.5% higher than the 5-year average of 4.4%. This approaches the highest level since records began (8.5% in 2022).
- 5-year average
- 4.4%
- 10-year average
- 3%
- All-time high (2022)
- 8.5%
- All-time low (2009)
- 0.5%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by -0.6 percentage point.
- Change vs. previous year
- -0.6 percentage points
- Largest monthly swing
- January: +6.2 percentage points
ECB Target
Inflation is 5.9% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €107.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 11.2% | +6.2 |
| February | 10.9% | +5.1 |
| March | 9.2% | +2.4 |
| April | 9.6% | +2.4 |
| May | 8.9% | +1.2 |
| June | 8.0% | -0.7 |
| July | 7.0% | -2.4 |
| August | 7.4% | -1.9 |
| September | 6.0% | -4.6 |
| October | 5.4% | -5.6 |
| November | 5.3% | -5.3 |
| December | 5.6% | -4.6 |
| Average | 7.9% |
Data source
Data from OECD. Last updated: 13/01/2026.