Economic experts worldwide expect inflation rates to remain high. This is the conclusion reached by the Economic Experts Survey, a quarterly survey conducted by the ifo Institute and the Swiss Economic Policy Institute. According to this survey, the inflation rate will reach 7 percent worldwide this year, then 5.9 percent next year and still 5 percent in 2026.
"Expectations for 2023 are almost identical to the survey at the beginning of the year. For next year and 2026, inflation expectations have even increased somewhat. Inflation remains at a very high level," said Ifo researcher Niklas Potrafke.
In Western Europe (5.3 percent), North America (5 percent) and Southeast Asia (5.1 percent), inflation expectations for 2023 are significantly below the global average.
"The ECB's interest rate hikes have also contributed to the decline in inflation expectations in Europe," Potrafke explains.
In contrast, inflation expectations are particularly high in South Asia (22.5 percent), South America (46.1), North Africa (32.7) and East Africa (29.9). 1,572 experts from 136 countries took part in the survey in March.