Inflation Forecast 2022-2024

Recent WIFO Research Brief by Josef Baumgartner
Due to the high price increases for energy and the transmission of higher production costs (intermediate products and wages) to consumer prices, inflation in Austria is expected to amount to 8.5 percent in 2022 and 6.5 percent in 2023.

In the following years, inflation is expected to decline markedly (2024: 3.2 percent), but at an estimated 2.5 percent for 2025-2027, the inflation rate in Austria will only slowly approach the ECB's target of 2 percent for the euro area.