Economic experts expect inflation to fall worldwide

Economic experts from all over the world expect inflation rates to fall in the coming years. This is according to the Economic Experts Survey, a quarterly survey conducted by the ifo Institute and the Institute for Swiss Economic Policy. According to the survey, the global inflation rate will reach 5.0 percent in 2024, 4.4 percent next year and 3.6 percent in 2027. In Germany, 3.4 percent is expected this year, in Austria 4.8 percent and in Switzerland 2.0 percent. "Compared to last year, inflation expectations for this year are significantly lower," says ifo researcher Niklas Potrafke.

In Western Europe (3.1 percent) and North America (3.2 percent), inflation expectations for 2024 are well below the global average. Here, inflation expectations for 2024 have fallen by 0.2 and 0.1 percentage points compared to the survey in the last quarter. For 2027, the experts still expect inflation of 2.1% for Western Europe and 2.4% for North America.

The regions with particularly high inflation expectations include South America (29.1%) and large parts of Africa. 1,431 experts from 124 countries took part in the survey from December 7 to 21, 2023.

Source: www.ifo.de