Also more unemployed
Inflation on the rise again: 3.3 percent in January
In January 2025, prices rose by 3.3 percent year-on-year. Services and energy in particular became more expensive. Unemployment figures also rose: the number of people without a job increased by 0.5 percentage points to 8.6 percent.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen Inflation rose by 1.1% compared to December 2024, according to the flash estimate by Statistics Austria. The price drivers included the services sector with a year-on-year increase of 4.7% and energy with an increase of 3.7%. By contrast, the price trend for industrial goods had a dampening effect on inflation, with prices rising by 0.9%.
Price-dampening measures no longer applicable
The rise in energy prices was foreseeable: "The jump to 3.3 percent after 2.0 percent in December 2024 is due to the fact that price-dampening measures such as the electricity price brake will no longer be effective from January 2025, grid fees will automatically increase and the CO2 tax has also been raised," said Statistics Austria Director General Tobias Thomas.
Prices for food, tobacco and alcohol also rose
And the high proportion of wage costs ensured that the services sector was the strongest driver of inflation, added Thomas. Prices for food, tobacco and alcohol rose by a below-average 2.7 percent. Statistics Austria recorded a year-on-year price increase of only 0.9 percent for industrial goods.
The EU-wide harmonized consumer price index rose by 3.5 percent in January and by 0.9 percent compared to the previous month. "Inflation rates are expected to fall again in the further course of the year," noted Thomas.
Kocher: "Fewer unemployed than in previous crises"
The recession had an impact on the unemployment rate: at the end of January, 445,513 people were registered with the Public Employment Service Austria (AMS) without a job, of which 365,746 were unemployed and 79,767 were in AMS training measures. "The tense economic situation across Europe continues to have a decisive impact on the domestic labor market, but the negative effects on the unemployment rate are lower than in previous crises," explained Labor Minister Martin Kocher
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