Economic Experts Expect Decline in Inflation Worldwide
Economic experts from around the world expect inflation rates to decline in the years ahead, finds 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 worldwide will reach 6.2 percent this year, then 5.2 percent next year, and 4.5 percent in 2026. In the UK, inflation for the current year is expected to reach 6.5 percent, in Ireland 5.6 percent, in the US 4.2 and in Canada 4.1 percent. “Although inflation expectations are still high, they have fallen significantly compared with the previous quarter,” says ifo researcher Niklas Potrafke.
Inflation expectations for 2023 are well below the worldwide average in Western Europe (4.6 percent) and North America (4.1 percent). They fell by 0.3 and 0.4 percentage points compared with the survey last quarter. For 2026, experts still expect 2.4 percent inflation in Western Europe and 2.7 percent in North America.
Among the regions with particularly high inflation expectations are South America (20.5 percent) and large parts of Africa. The survey ran from September 26 to October 11, 2023 and this time had 1,541 participants from 128 countries.
Figures for other countries and other years can be obtained upon request.
