Multilayer interference pigment consisting of a transparent carrier material coated with alternating layers of metal oxides of low and high refractive index, the difference in the refractive indices being at least 0.1, which is obtainable by alternate coating of the transparent carrier material with a metal oxide of high refractive index and with a metal oxide of low refractive index in a wet process by hydrolysis of the corresponding water-soluble metal compounds, separation, drying and, if desired, calcination of the resulting pigment.