Inflation rates by country and year
Data: World Bank, annual %. For information only — not financial advice.
Behind the curve
Turning points in Austria
- 1973↑ Upward pressure
The first oil crisis ↗ — Wikipedia (opens in a new tab)
The oil shock lifted Austria’s imported energy costs and pushed consumer prices higher across the 1970s.
- 2009↓ Downward pressure
The global financial crisis ↗ — Wikipedia (opens in a new tab)
The recession and falling commodity prices reduced Austria’s inflation to a very low annual rate in 2009.
- 2020↓ Downward pressure
The pandemic and disrupted demand ↗ — Wikipedia (opens in a new tab)
The pandemic weakened demand and energy prices, keeping Austrian inflation subdued before the recovery.
- 2022↑ Upward pressure
Energy prices reach a new peak ↗ — Wikipedia (opens in a new tab)
Energy prices were a major driver of Austria’s 2022 inflation. Statistics Austria and the OeNB recorded a rate far above the preceding decade.
These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.