Economists expect global inflation to decline

Global inflation is expected to be 7.1 percent for 2023, according to the Ifo Institute and the Swiss Economic Policy Institute. Next year, it is expected to be 5.8 percent and 4.5 percent in 2026.

Economists expect a gradual decline in global inflation in the coming years. The Ifo Institute and the Swiss Economic Policy Institute said on Thursday that the global inflation rate is expected to be 7.1 percent for 2023, referring to a survey of economists around the world. Next year, it is expected to be 5.8 percent and 4.5 percent in 2026.

For Western Europe, North America, and Southeast Asia, experts assume inflation rates of five percent each, notably below the global average. The projections for South Asia (23 percent), South America (25 percent), North Africa (32 percent), and East Africa (about 35 percent) are much higher.

He explained that “expectations at the beginning of the year are encouraging because experts see slightly lower inflation rates compared to the previous quarter.” ifoResearcher Niklas Butravki. However, inflation remains at a very high level. According to Ifo, 1,537 experts from 133 countries took part in the survey in December.

(APA)