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Inflation, electricity prices, and the climate bonus: Google search data from Austria shows that economic pressure lingers longer than official figures suggest.
Analysis: Mogaji Digital Communications, Vienna, May 2026
Update: 20.Juli 2026
After two years of recession, a modest recovery began in 2025. For 2026, WIFO and IHS expect only subdued growth of around 0.9% and 0.5%, respectively. Inflation is forecast to remain above the ECB’s target, at between 2.7% and 2.9%.
What the search data reveals is not a short-term panic reaction to a shock, but a structural shift in search behaviour.
Searches for “inflation Austria” averaged 1,743 per month in 2019. In 2022, they jumped to 8,290. In 2023, they rose further to 10,140—one year after the peak of the inflation surge. And in 2025, when the official inflation rate had returned to what was considered a healthy range, searches reached a new high of 10,505 per month.
In 2021, Austrians searched for “electricity prices” an average of 529 times per month. In 2022, that figure rose to 3,051—an increase of 477% within a single year. The peak came in September 2022, with 7,126 monthly searches.
Search volume did not return to its previous baseline afterwards. The annual average was 4,289 in 2023, 3,362 in 2024, and 3,830 in 2025.
The pre-crisis level of around 500 searches per month was never reached again.
The pre-crisis level of around 500 searches per month was never reached again.
Before 2022, monthly search volume for “fuel prices” remained stable at between 1,500 and 2,400 searches, with no significant fluctuations for years.
In March 2022, the month after Russia’s invasion of Ukraine, Google Trends interest jumped to an index value of 100, the highest possible level. Ahrefs data confirms this, with 38,847 searches in that month alone.
The same pattern then emerged as with inflation and electricity prices. Search volume declined, but not to pre-crisis levels. The annual average was 3,743 in 2023 and 3,157 in 2024—both well above the 2021 level of 2,281.
Monthly searches · Annual average · Austria
“Fuel prices” — Source: Ahrefs · Analysis: Mogaji Digital Communications
The keyword data shows how search intent shifted during this period. In 2022, frustration-driven questions dominated:
“Why are fuel prices skyrocketing?”
“Why aren’t they falling?”
“Who is responsible for the high fuel prices?”
In 2026, during the second major price shock caused by the Iran war, the questions became more political:
“What is the government doing about fuel prices?”
“Who sets fuel prices?”
"Who sets the fuel prices?"
People in Austria are no longer just looking for explanations—they are looking for accountability.
The comparison between countries is also striking: the search query “why are fuel prices only rising in Germany?” generates 1,200 monthly searches from Austria.
Fuel Prices in Austria — Search Intent
Source: Ahrefs · Mogaji Digital Communications| Keyword | For the first time | Intention | Intensity | What lies behind it |
|---|---|---|---|---|
| Cause — Why is this the case? | ||||
| Why are petrol prices so high? | 2021 | Cause | High | 900 searches per month, consistently since the crisis |
| Why are petrol prices skyrocketing? | 2022-03 | Cause | Low | Put in emotional terms, frustration becomes a search query |
| Current fuel prices: why are they so expensive? | 2026-03 | Cause | High | 800 searches per month; Iran shock reactivates pattern |
| The future — When will things get better? | ||||
| When will fuel prices go down again? | 2021 | Future | High | 450 searches per month; ‘back’ indicates pre-crisis levels as the norm |
| How high will fuel prices rise in 2026? | 2026-03 | Future | Low | A planning horizon rather than hope of a return |
| Responsibility — Who takes action? | ||||
| Petrol prices – what is the government doing? | 2026-03 | Politics | Low | New for 2026: Requests for intervention will be searchable |
| Who sets fuel prices? | 2026-03 | Politics | Low | A systemic issue: the pricing mechanism is no longer understood |
The escalation of the Iran war drove crude oil prices up by as much as 29% within a single day. Fuel prices at Austrian petrol stations rose immediately, and search interest reached a Google Trends index value of 85—almost as high as in 2022.
The datasets reveal the same pattern: a shock in 2022, followed by no return to pre-crisis levels. Economic uncertainty has structurally changed search behaviour in Austria. Interest in inflation and electricity prices remained at levels that would have been unthinkable before 2022.
One important point must be considered when interpreting the data: search data measures Attention and information needsnot financial hardship. Someone searching for “inflation Austria” could be a journalist, student, retiree, or business owner. The figures do not reveal how individual households are doing, but they do show which issues people are actively concerned about.
Ahrefs keyword data shows how search behaviour has structurally changed since 2022. Not only did search volume increase, but entirely new search queries emerged—phrases that had previously been nonexistent or rarely searched.
| Keyword | Registered for the first time | Intention | Intensity | What lies behind it |
|---|---|---|---|---|
| Explanation — what is it, anyway? | ||||
| What is inflation? | before 2019 | Explanation | Medium | Basic knowledge, often the first point of contact with the subject |
| How is inflation calculated in Austria? | 2021 | Explanation | Low | A question of methodology: seeking to understand what lies behind the figure |
| Classification — what is the current level? | ||||
| What is the rate of inflation in Austria? | before 2019 | Classification | High | Most searched-for variant, 200 searches per month, traffic potential 9,500 |
| What will the inflation rate be in Austria in 2026? | 2026 | Classification | Low | Latest entry: the behaviour continues |
| What is the current rate of inflation in Austria? | 2018 | Classification | Low | Focus on current events; do not look for historical figures |
| Reason — why is that the case? | ||||
| Why is inflation so high in Austria? | 2023 | Cause | Medium | New since the crisis: looking for those responsible and the wider context |
| Why is inflation higher in Austria? | 2024 | Cause | Low | Direct comparison between countries or years |
| The future — when will things get better? | ||||
| When will inflation fall in Austria? | 2023 | Future | Low | No longer a question of information, but a longing for relief |
| When will inflation fall again in Austria? | 2023 | Future | Low | "Again" shows that a sense of normality is missing |
| Action — what can I do? | ||||
| inflation in Austria: what to do | 2022 | Action | Low | The very first action keyword, which emerged right in the midst of the crisis |
| How can I protect my money from inflation? | 2022 | Action | Low | Most specific action point: identify personal protective measures |
The development follows a clear pattern:
The trend began with explanatory questions, such as “What is inflation?” Contextual questions, such as “How high is inflation?”, became a permanent feature, and from 2023 onwards, questions about causes became increasingly common. The most striking shift began in 2022: for the first time, action-oriented questions appeared more frequently, such as
“Inflation in Austria—what can I do?”
"How can I protect my money from inflation?"
Before 2022, these specific search terms were barely present. This points to a clear shift: users are now searching less for general background information and more for concrete ways to respond and possible solutions. This trend is also clearly reflected in the search results provided by Google.
When it comes to inflation, people search for explanations, context, and eventually possible courses of action. The same applies to electricity prices, but the emphasis is different. Questions about causes and future developments dominate:
Why are they rising, and when will they fall again? What stands out is the tone.
“Why are electricity prices skyrocketing?”
“Why aren’t they falling?” These are not neutral requests for information.
They reflect frustration.
| Keyword | Registered for the first time | Intention | Intensity | What lies behind it |
|---|---|---|---|---|
| Classification — how high are they at the moment? | ||||
| What are the current electricity prices? | 2022 | Classification | Medium | New since the crisis: a focus on current performance rather than historical figures |
| Reason — why is that the case? | ||||
| Why are electricity prices rising? | 2020 | Cause | High | It existed even before the crisis, but it was not until 2022 that it really took off |
| Why are electricity prices skyrocketing? | 2022 | Cause | Low | The only emotionally phrased search query in both datasets; frustration becomes a search query |
| Why aren’t electricity prices falling? | 2022 | Cause | Low | Impatience as a form of search behaviour; a normal state is expected but not delivered |
| The future — when will things get better? | ||||
| When will electricity prices fall again? | 2021 | Future | High | "Again" shows that pre-crisis levels are regarded as the norm |
| How long will electricity prices remain this high? | 2022 | Future | Low | No more hope of a quick return; looking for a planning horizon |
| How will electricity prices develop in 2026? | 2025 | Future | Medium | Still active in 2025, with continuous monitoring continuing well beyond the crisis |
| Action — what can I do? | ||||
| What can be done about high electricity prices? | 2022 | Action | Low | First action keyword, which emerged directly as a result of the crisis |
| How do I compare electricity prices? | 2022 | Action | Low | The most concrete step to take is to look into switching providers as a solution |
| Erklärung — wie funktioniert das | ||||
| How are electricity prices calculated? | 2022 | Explanation | Low | A new development since the crisis: seeking transparency behind the bill |
| What are negative electricity prices? | 2024 | Explanation | Medium | A new phenomenon from 2024 onwards; interest is continuing to grow rather than waning |
A distinct pattern can be seen in searches for government relief measures. The climate bonus reached a peak of 67,862 monthly searches in September 2022, while the heating cost subsidy peaked at 4,825 searches in 2023.
What these figures primarily indicate, however, is not a sense of crisis. Government interventions create a need for information—a distinct signal of their own.
The climate bonus was communicated to all households through a mass mailing. The heating cost subsidy was administered across nine federal states, each with different rules and application deadlines. Both programmes were new, and both were complex enough to raise questions.
This is methodologically relevant to the entire analysis: search data measures not only uncertainty, but also political activity.
A new support programme generates search volume because it creates a need for information, regardless of the population’s financial situation.
Beyond inflation, electricity prices, and government relief measures, three additional clusters reveal relevant signals.
Saving and cost control—through search terms such as “save money,” “save on shopping,” or simply “saving”—rose steadily from 2022 onwards and reached a record high in 2025, averaging 2,014 monthly searches. Unlike electricity prices, this was not a sudden shock but a gradual shift: concern about prices became part of everyday planning.
Side jobs and making money online are methodologically the most difficult terms in this analysis. “Side job” is a consistently popular search topic. “Make money online,” by contrast, rose from 1,383 monthly searches in 2021 to 2,521 in 2025—a steady increase without a clear crisis-related turning point. Both can be interpreted as the income side of the crisis, but they do not necessarily have to be.
Housing assistance and rent subsidies complete the picture. Search volumes are moderate, but they show that economic pressure is reflected not only in searches about energy and food, but also in searches related to housing.
What These Figures Do Not Reveal
Search data can reveal a great deal. But there are also things it cannot show.
They do not prove that households are financially overwhelmed. They reveal nothing about the income, savings, or actual loss of purchasing power of individuals.
What they do reveal are the issues that attract attention, the questions people ask, and the moments when abstract economic topics become concrete everyday problems.
The analysis combines keyword and search-volume data from Ahrefs—estimated monthly searches in Austria from 2015 to 2026—with economic context data from Statistics Austria, including annual CPI figures for 2021–2025, and the Austrian National Bank’s 2026 Interim Outlook. All search volumes are annual aggregates of monthly averages. Google Trends values, used for the energy and inflation cluster, show relative search interest normalised on a scale from 0 to 100 and do not allow direct volume comparisons between different terms.
Sources Statistics Austria CPI/HICP, OeNB Interim Outlook 2026, E-Control Price Monitor, Ahrefs Keyword Explorer, and Google Trends.
Mogaji Digital Communications is SEO Agencz in Vienna with a focus on B2B companies, data-driven search strategies, and content.
Managing Director of Mogaji Digital Communications OG since 2021.
Digital Marketing Expert since 2019
