Austria's inflation rate rose to 3.2 percent in January, primarily driven by higher electricity prices, Statistics Austria said Monday.

The country's inflation rate had remained within the 2-percent medium-term inflation target set by the European Central Bank for four consecutive months.

The rise in inflation was mainly caused by higher electricity costs following the expiration of the electricity price cap, along with increased CO2 taxes and grid fees for both electricity and natural gas, said Tobias Thomas, director-general of Statistics Austria.

Electricity prices soared 35.3 percent in January compared to a year ago, while prices in restaurants and hotels increased by 5.6 percent year-on-year. 

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