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Austria's WIFO raising 2022 inflation forecast due to energy costs

Published 05/29/2022, 10:37 AM
Updated 05/29/2022, 10:40 AM
© Reuters.

GENEVA (Reuters) - Austria's WIFO economic institute plans to raise its inflation forecast for this year to 6.5% from 5.8% seen in March due to higher energy prices, the institute's chief said on Sunday.

"The 5.8% ... that is WIFO's March estimate. We will now have to revise it upwards to 6.5%," WIFO director Gabriel Felbermayr told broadcaster ORF.

He said the revised forecast included provision for a European Union embargo of Russian oil, which EU countries are negotiating.

 

 

Latest comments

as it is forcasted, inflation, hyperinflation...and liquidity collapse. Result of politicians steering the central banks like kids with credit card and no education. not only retirement will be a illusion but young will be canon meat.
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