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Inflation

Increase in Business Insolvencies in Austria Amid Economic Challenges
Austria's business landscape saw a challenging year in 2024, with a significant increase in corporate insolvencies driven by economic factors such as rising inflation, recession, and the end of pandemic-related support. While businesses struggled, a notable rise in new company formations offered a mixed picture.
February 9, 2025


Record Number of Company Bankruptcies in Vienna Burdens Economy and Labor Market

In Vienna, more than 1,100 companies filed for insolvency between January and September 2024, with the real estate sector particularly hard hit. This development contributes to rising unemployment, which has increased by 8.8% compared to the previous year. Experts blame the rise in the poor global economic situation, high inflation, and increased energy and rental costs. The increase is particularly worrying for retail and service companies, as shown by the example of Pepco, which has affected over 600 employees.
October 21, 2024

Inflation in Austria at its Lowest Level Since 2021
Inflation in Austria fell to 1.8 percent in September compared to the same month last year. This was the lowest figure for a good three and a half years, according to Statistics Austria.
October 19, 2024

ÖBB Increases Ticket Prices by 4.9 Percent
ÖBB announced that prices for standard tickets will increase by an average of 4.9 percent from December 15, 2024, in parallel with the winter timetable. This is the first price increase in 18 months. However, numerous tickets, including the popular Sparschiene tickets and seat reservations, will remain unaffected by the price adjustment.
October 17, 2024

Economic Outlook in Austria: High Inflation and Stagnation Until 2026
The Austrian Institute of Economic Research (WIFO) has published a comprehensive analysis of economic development and inflation forecasts for Austria, covering the years 2024 to 2028. The study shows that Austria will continue to struggle with high inflation until mid-2026 before the European Central Bank's (ECB) target of two percent is reached. At the same time, the economy will not see a slight recovery until 2025.
July 1, 2024

Inflation Outlook for Austria Shows Significant Improvement
The Austrian National Bank's (OeNB) latest inflation forecast gives cause for cautious optimism for the Austrian economy. Inflation has decreased and economic growth has also returned since the start of the year, albeit weakly.
March 13, 2024

Austrian Airlines Is Threatened With a Strike from its Personnel
In a work meeting on Tuesday, Austrian Airlines' (AUA) onboard staff rejected the proposed new collective agreement. There is now a deadline of April 6 for the negotiations to continue. A strike is imminent if no agreement is reached.
March 28, 2023

Cell Phone Contracts in Austria to Become More Expensive From April
Existing cell phone contracts will become up to 11.5 percent more expensive for many customers in April. Drei and A1 have already confirmed price increases in charges, the Chamber of Labor (AK) said in a press release.
March 14, 2023

Vienna Will Provide 200 Euros Once More
After it gave financial assistance to its citizens last year, the City of Vienna will provide the same of 200 Euros again this year. The citizens will receive the benefits of the Energy Bonus 23 in April.
February 22, 2023

Exchange of Topics Between Foreign Minister Schallenberg and his Counterpart of North Macedonia Bujar Osmani
Austrian Foreign Minister Alexander Schallenberg met with his Macedonian counterpart Bujar Osmani, where they discussed several topics including topics regarding the Organization for Security and Cooperation in Europe (OSCE). From January 1, North Macedonia has taken over as the chair of the organization for this year.
January 11, 2023 · Updated: January 20, 2023; 12:00

Inflation Sank in December to 10,2 Percent
The inflation rate continues to drop in Austria. After a reduction in November to 10,6 percent, inflation dropped even further in December to 10,2 percent. However, experts are slowing the enthusiasm down for the moment.
January 5, 2023

OPEC Plus Marks Sixth Anniversary
The Declaration of Cooperation (DoC) between OPEC member countries and 10 non-OPEC oil-producing countries turned six years old. As the oil cartel engaged in diplomatic celebrations, OPEC reaffirmed its expectations for global oil demand in 2023.
December 14, 2022

Financial Assets of Austrian Households Decline for the First Time Since the Financial Crisis
The economic crisis, high inflation, falling share prices and rising energy prices are now taking their toll. According to a new study, average household wealth in Austria fell in recent months for the first time since the 2008 financial crisis.
October 31, 2022

Inflation in Austria: Highest Value Since Post-War Period
Inflation in Austria is getting higher and higher. At 10.5%, it has now exceeded the magic limit of 10 percentage points and is thus considered the highest inflation in Austria since the post-war period. Read on if you want to know which products have become more expensive!
October 25, 2022

Trade Relations With the USA: Exports and Investments of Austrian Companies on a Strong Upswing
Austrian companies are increasingly exporting to the USA. It is already their largest overseas market and mutual bilateral investments are steadily increasing. Read on to find out what influences the positive growth dynamics and why Austrian products are in such demand in the US.
August 16, 2022


Austrian Federal President: "We Must Not Allow Ourselves to Be Divided"

Austria's Federal President Alexander Van der Bellen addressed the current challenges and hardships in a gripping opening speech at the Bregenz Festival.
July 21, 2022

Austrian National Bank Expects Highest Inflation Rate in 50 Years
In a recent analysis, the Austrian National Bank expects inflation in Austria to settle at 7.6% in 2022. This particularly high value represents the highest inflation since the crude oil crisis in the 1970s. Inflation is also expected to remain above the target of 1.9% in the coming years.
July 11, 2022

Vienna Economic Council - How Vienna Deals With Current Economic Challenges
The Vienna Economic Council met this week to deal with the effects of the conflict in Ukraine. The aim was to make Vienna attractive as a business location and to manage emerging economic crises in the best possible way. Read on if you want to learn more!
July 7, 2022


What Austria Expects From the Czech Republic's EU Presidency

Czech Republic has taken over the Presidency of the Council of the EU, replacing France, which held the post in the first half of the year. Austria's neighbouring country takes over the presidency at a crucial time, capped by international conflicts and economic crises.
July 1, 2022

Why Austria's Economic Recovery is Losing Momentum
According to the Austrian Institute of Economic Research (WIFO), the global economic slowdown, which mainly affects industry, has dampened Austria's economic outlook. This downturn is only dampened by tourism, which has recovered better than expected since the Covid-19 pandemic.
June 30, 2022


The Austrian Development Bank's Efforts in Climate Protection and Energy Supply

The Austrian Development Bank recently published its latest Impact Report, disclosing the development effects achieved through its investments. The published report shows that the projects supported by OeEB saved more than 1.19 million tons of CO2 emissions and gave more than 297,000 micro, small and medium-sized enterprises access to one or more loans.
May 31, 2022

European Central Bank Calls for Action Against Inflation
The European Central Bank is calling for quick action against inflation. The inflation rate shot up to 7.4 percent in the euro area recently, well above the ECB's target of two percent.
May 19, 2022

War in Ukraine Continues to Dominate Austria's Economic Outlook
In a recently published report, the Austrian Institute of Economic Research (WIFO) gives an insight into Austria's economic situation and forecasts the development of the economy over the next few years. The Omikron wave and the war in Ukraine will continue to slow down Austria's economic growth in the next few years and no relief is expected for the time being. Nevertheless, there is also good news concerning the labour market.
May 12, 2022


6.8% Inflation: How Private Households are Affected by Rising Prices

Inflation in Austria remains historically high and is pushing many households to their limits. Whether it's high gasoline prices or horrendous living costs, everyone is feeling the inflation. How the average household is affected by these problems and what impact they have on lower-income households, read here.
April 20, 2022


Due to the Ukraine War: Austrian National Bank Still Expects Huge Inflation in 2022

Shortages of raw materials and high energy prices, triggered by the Russian war of aggression in Ukraine, have led to an increased inflation rate of 5.6% in Austria. After the highest measured inflation rate in March 2022 since joining the monetary union, there is no easing now; this is not expected until 2023.
April 11, 2022


Uncertainty due to Ukraine War: Austria's Tourism Industry Lowers High Expectations for 2022

Austria's tourism industry is facing another setback after 2 tough years. Uncertainty caused by the Russian war of aggression in Ukraine and the related increase in economic problems could have an impact on tourism and thus also on the economy in Austria.
April 7, 2022


Economic Outlook for Austria: The Kremlin's Aggression against Ukraine is a Game Changer

After a few tough years in which the Covid-19 virus shaped the Austrian economy, a new enormously important factor is coming into play - the war in Ukraine. The Russian aggression led to more pessimistic economic outlook and will still play an enormous factor in the Austrian market in the future.
April 4, 2022


Housing in Austria: Average Monthly Rents Remain Above Inflation Rate

Rental prices are not spared from the persistently high inflation. On the contrary - according to a recent study, rental prices remain above the current inflation rate. If you want to know how expensive rent is and how much the average tenant pays, read on.
March 30, 2022


Economic Outlook for Austria until 2024

Strong economic rebound amid high uncertainty about impact of Covid-Omicron variant. Find out what the economic future holds for Austria until 2024.
February 2, 2022


Inflation in Austria: Government Approves Relief Package to Deal with Rising Energy Prices

Chancellor Nehammer and Vice-Chancellor Kogler held a summit with energy suppliers and assembled a relief package to help combat inflation. Learn what's in the relief package and who will benefit from it.
January 28, 2022

Inflation in Austria: Highest Rate in 10 Years
In August 2021, the inflation rate reached 3.1%, the highest value since December 2011.
August 31, 2021


How Expensive is Rent in Austria?

The rent costs in Austria vary depending on the duration, region and type of rental segment. Find out more about the exact amounts you have to pay across Austria!
May 25, 2021


Statistics Austria: Inflation Has Risen to 1.7% in July 2020

According to latest reports, inflation in Austria has risen from 1.1% in June to 1.7% in July 2020. The pricing of clothing was the main driving force.
August 19, 2020


Inflation in Austria falls to 2.0% in 2018

According to calculations by Statistik Austria, the average inflation rate of the consumer price index (CPI 2015) was 2.0% in 2018, slightly below the level of 2017 (+2.1%) and well above the levels of 2016 and 2015 (+0.9% each).
January 18, 2019


Inflation in Austria Dropped Down to +1.0% in December 2014

The annual inflation rate of the consumer price index measured by Statistics Austria went down to +1.0% in December 2014 (November +1.7%).
January 19, 2015


Further Decrease of Inflation to 1.7% in August

The annual inflation rate of the consumer price index slowed down to 1.7% in August 2014 (July 1.8%).
September 17, 2014


CPI: Austrian Inflation Rate Increased Slightly to 1.8% Y/Y

The annual inflation rate of the consumer price index measured by Statistics Austria went up to 1.8% in May 2014 (April 1.7%).
June 16, 2014


Austria: Is Spindelegger Suitable as Finance Minister?

On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.
April 28, 2014


Serbia: Key Rate Kept Unchanged.

The NBS (National Bank of Serbia) decided to keep the policy rate unchanged as there is no threat of inflation.
April 22, 2014


IMF Upgrades Growth for Slovenia

In its latest report the International Monetary Fund has raised its projection for GDP growth in Slovenia.
April 9, 2014


Austria: Government Wants “Restrictive Budget Performance”

Today the Austrian government has decided upon a “restrictive budget performance.
April 8, 2014


Poland: No Danger of Deflation

According to Marek Belka, governor of the National Bank of Poland (NBP), there is not threat of deflation.
April 7, 2014


CEE: Economy Could Become More Vulnerable to Crimea Crisis

If the political crisis in Crimea aggravates negative effects in the economy could soon become evident.
April 2, 2014


Austria: “Financial Crisis is Not Yet Over”

Deputy Chancellor and Finance Minister Michael Spindelegger considers the financial crisis not to be completely over.
April 2, 2014


Romania: Key Interest Rate Remains Unchanged

The central bank of Romania has left the main interest rate unchanged.
March 31, 2014


Austria: Economic Growth Slowly Getting in Gear

Wifo (Austrian Institute of Economic Research) projects economic growth in Austria to revive again only at the end of this year.
March 27, 2014


Hungary: 20th Consecutive Interest Rate Cut

The Hungarian central bank has cut the key interest rate by 10 basis points to 2.6 percent.
March 26, 2014


Hungary: Orban Striving to Become PM Again

In an attempt to gain another four years as head of the government Hungarian Prime Minister Viktor Orban praises the country’s achievements in the past years since his Fidesz party came into power.
March 26, 2014


Low Inflation Still No Threat to CEE

Currencies in CEE should not be affected by low inflation, according to Erste Group.
March 19, 2014


Recovery of Austrian Economy Continues

Austrian economy continues its recovery despite weaker upswing.
March 17, 2014