Inflation increased to 3.2% in August 2021 (HICP: 3.2%)

Press release: 12.613-204/21

Vienna,2021-09-17 - In August 2021, the inflation ratewas 3.2%, as Statistics Austria reports (July 2021: 2.9%). This was the highest value since December 2011 (3.2%). Expenditures for transport (+9.2% compared to August 2020) proved to be the most important price driver, followed by expenditures for housing, water and energy (+3.6%).

The consumer price index (CPI 2020)was at 103.0, while the average price level increased by 0.1% compared to July 2021.

'The fuel and energy prices, which have risen sharply compared to the low level of the previous year, are driving inflation further in the main groups of transport and housing. In addition to these catch-up effects in the energy sector, the price increases for flights, hospitality and home maintenance materials are currently also contributing to the rising inflation rate', says Statistics Austria Director General Tobias Thomas.

The measures to contain COVID-19 had, like in the previous month, hardly any impact on the calculationof the inflation rate. Like in July only for two shopping basket positions imputation methods were applied: seasonal imputation for bus package tours, and all items imputation for school sports excursions. In total, this affected about 0.4% 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 (PDF, 1 MB) 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 111.22 in August 2021 (July 2021: 111,18 revised). with a harmonised inflation rate at 3.2%.

For more detailed information please refer to the German version.