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Economists at the Ifo Institute expect inflation to decline around the world

Economists at the Ifo Institute expect inflation to decline around the world

Economists around the world expect inflation rates to decline over the next three years, the Economist Survey, a quarterly survey conducted by the Ifo Institute and the Swiss Institute for Economic Policy, has concluded.

Economists around the world expect inflation rates to decline over the next three years, the Economist Survey, a quarterly survey conducted by the Ifo Institute and the Swiss Institute for Economic Policy, has concluded.

According to this poll, the global inflation rate will reach 5.0% in 2024, reach 4.4% next year, and 3.6% in 2027.

In the United States, inflation this year is expected to reach 3.2%, in the United Kingdom 4.3%, and in Ireland 3.0%, according to the Ifo Institute.

“Compared to last year, inflation expectations for this year are much lower,” says Niklas Potravki, a researcher at the Munich-based institute. Ifo adds that Germany will receive an interest rate of 3.4%.

According to the analysis, inflation expectations for 2024 are well below the global average in Western Europe (3.1%) and North America (3.2%); They are 0.2 and 0.1 percentage points lower compared to the last quarter survey.

For 2027, experts still expect inflation to reach 2.1% in Western Europe and 2.4% in North America.

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

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