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MNI BRIEF: Austria Inflation To Outstrip Euro Average Into 2025

(MNI) LONDON

Headline and core inflation expected to decline, but domestic prices, wages, to maintain upward pressure, OeNB says

Central Bank NewsPolicy NewsHomepageStoryEuropeEurozoneBriefEuropean Central BankRegion

Inflation in Austria is expected to reach 6.9% this year before falling to 4.0% next year and 3.1% in 2025, the Austrian National Bank said in a statement on Wednesday, signalling a higher rate than foreseen in ECB projections for the euro area, which have inflation averaging 5.3% in 2023, 2.9% in 2024 and 2.1% in 2025.

Core inflation in Austria is predicted to increase by 1% to 6.1% in 2023, 4.3 % in 2024 and 3.1% in 2025, the OeNB said, compared with the euro area average of 4.6%, 2.5% and 2.2%, with the disinflationary effect of easing energy costs offset increasingly by domestic price pressures and strong wage increases.
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Inflation in Austria is expected to reach 6.9% this year before falling to 4.0% next year and 3.1% in 2025, the Austrian National Bank said in a statement on Wednesday, signalling a higher rate than foreseen in ECB projections for the euro area, which have inflation averaging 5.3% in 2023, 2.9% in 2024 and 2.1% in 2025.

Core inflation in Austria is predicted to increase by 1% to 6.1% in 2023, 4.3 % in 2024 and 3.1% in 2025, the OeNB said, compared with the euro area average of 4.6%, 2.5% and 2.2%, with the disinflationary effect of easing energy costs offset increasingly by domestic price pressures and strong wage increases.