Economists around the world expect lower inflation rates this year and 2024.

The German Institute for Economic Research (Ifo) and the Swiss Institute for Economic Policy (IWP) published the October results of the “Economic Expert Survey”, which is carried out quarterly.

According to the survey, the global inflation expectation for this year, which three months ago was 7 percent, increased to 6.2 percent, from 6 percent to 5.2 percent for next year and from 4.9 percent percent to 4 percent by 2026. It fell to 5 .

THERE WILL BE HUGE DIFFERENCES IN REGIONAL INFLATIONS

Furthermore, depending on the region, economists predict large differences in inflation rates.

Inflation expectations for this year were below the global average: 4.6 percent for Western Europe, 4.1 percent for North America and 4.7 percent for Southeast Asia.

On the other hand, inflation expectations for 2023 are above the world average at 17.1 percent for South Asia, 20.5 percent for South America, 55.5 percent for North Africa and 36.5 percent for East Africa.

Ifo researcher Niklas Potrafke states in his assessment: “Although inflation expectations remain high, compared to the previous quarter they have decreased significantly.”

Potrafke noted that economists still expect inflation to be 2.4 percent in Western Europe and 2.7 percent in North America by 2026.

1,541 economists from 128 countries participated in the survey between September 26 and October 11. (AA)