The index shows an inflation rate of 7.9% in 2023, which is slightly above the annual inflation rate of 7.8% according to Statistics Austria’s consumer price index.
Vienna (OTS) – The inflation rate in the sensitive area of health care with over-the-counter medicines is similar to the overall inflation in Austria. These products, known as “OTC medicines”, recorded an inflation rate of 7.9%, which is 0.1 percentage points above the annual inflation rate of Statistics Austria (7.8%). A detailed analysis of individual product categories such as painkillers, wound healing, vein health and nasal sprays shows price increases of 4.03% to 14.61%. Products with price increases showed different patterns: ≈60% of products experienced a one-time price increase in 2023, while ≈30% of products had their price increased twice. Most price increases took place in the first quarter of 2023, especially in the months of January and February.
“The one from the statistician DI. Dr. “The index developed by Johannes Hofrichter provides the first insight into the price development of over-the-counter medicines in Austria,” says Dr. med. univ. Zinnagl, Managing Director at KENTO Healthcare Insights. “Some price adjustments by the pharmaceutical industry in the OTC range were unavoidable. As in the rest of the manufacturing industry, price increases for raw materials and wage increases were passed on to consumers.”
*KENTO Inflation Index OTC: The index is based on a defined basket of representative OTC products, valued at pharmacy sales prices.
About KENTO
KENTO Healthcare Insights is an Austrian provider of market research, data analysis and training for healthcare and pharmaceutical companies. KENTO stands for well-founded information and data-based interpretations in the areas of drug supply, marketing strategy, distribution management and market access. Our goal is to enable better allocation of resources for the benefit of all patients through needs-based analyzes and to increase the quality of patient care.
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