Life in Austria is now significantly more expensive than at the end of 2019. At the end of 2024, the average Austrian woman and man will need 458 euros more per month than at the end of 2019 if they want to maintain the same standard of living as then. Further price increases in 2025 will make life even more expensive.
According to an analysis by the Momentum Institute, which is close to unions and workers’ chambers, life in Austria has become significantly more expensive over the past five years.
Of the monthly 458 euros that the Momentum Institute describes as ‘additional costs’, 66 euros went to food, 83 euros to housing and energy, 128 euros to catering and management, 14 euros to fuel and another 167 euros to other expenses such as Health, leisure and culture or education.
Compared to the average inflation rate in the eurozone, people in Austria would have to pay 96 euros less per month.
Austrians are “coldly optimistic” for 2025
33 percent of respondents are skeptical and 27 percent are worried about the new year, while only 34 percent are confident. Yet the dark years seem to be over for the time being. A slight improvement in mood was already visible in the 2024 survey, which also continued, albeit only slightly, in this year’s New Year’s survey.
The share of pessimists fell from 65 to 61 percent in total, while those who are optimistic about the year 2025 increased from 31 to 34 percent. However, the annual Austrian sentiment survey conducted since 1972 shows that confidence is still below the average of 44 percent.
Rising prices at gas pumps
In any case, homes remain more expensive and motorists also have to take rising costs into account. Around the turn of the year, the national CO2 price will increase from 45 to 55 euros per tonne of CO2. At the pumps this means an increase of about three cents for diesel; Overall, CO2 costs in 2025, including sales tax, will account for 15 cents of pump prices for petrol and 16.5 cents for diesel.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
