Economic experts from around the world expect inflation rates to remain above the central banks’ targets, finds the Economic Experts Survey, a quarterly survey conducted by the Germany's Ifo institute and the Swiss Economic Policy Institute. A total of 1,514 economic experts from 119 countries participated in the survey from September 17 to October 1, 2024.
Respondents predict that this year inflation in Germany will reach 2.4 percent, in Austria — 3.1 percent, and in France — 2.3 percent. Although the rates for Germany were recently below 2.0 percent (1.6 percent in September), the experts expect 2.3 percent again in 2025 and 2.2 percent in 2027. Meanwhile, inflation in the eurozone is projected to reach 2.6 percent in 2024.
"In the medium term, inflation in the eurozone is expected to remain above the ECB's target level (2%). Due to the stagnation of inflation expectations, central banks may refrain from further lowering interest rates," the Ifo Institute said.
The survey results also showed that worldwide, inflation could reach 4.0 percent in 2024, 3.9 percent next year, and 3.6 percent in 2027.