Statistics Austria announced this in a broadcast on Friday. Inflation-adjusted private consumption fell by 0.3 percent in the same period, according to preliminary data. Meanwhile, the savings rate has also fallen slightly. While Austria’s households put aside 9.2 percent of their disposable income in 2022, last year it was slightly less at 9 percent.
This means that the proportion of income that is not used for consumption has recently leveled off once more at around the pre-Corona level. In 2020, the Corona measures led to less consumer spending and thus to a savings rate of 13.2 percent. In 2021 it was 11.2 percent.
The disposable income of private households increased from 250.3 billion euros in 2022 to 269.4 billion euros – but this was offset by high inflation. Among the most important income categories, employee compensation increased nominally by 8.9 percent, monetary social benefits rose by 6.6 percent, and other transfers fell by 2.8 percent.
