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Economic Outlook in Austria: High Inflation and Stagnation Until 2026
The Austrian Institute of Economic Research (WIFO) has published a comprehensive analysis of economic development and inflation forecasts for Austria, covering the years 2024 to 2028. The study shows that Austria will continue to struggle with high inflation until mid-2026 before the European Central Bank's (ECB) target of two percent is reached. At the same time, the economy will not see a slight recovery until 2025.
The Austrian Institute of Economic Research (WIFO) expects the Austrian economy to face many challenges. / Picture: © Wikimedia Commons / Herbert Ortner, Vienna, Austria / CC BY-SA (http://creativecommons.org/licenses/by-sa/3.0/)
In 2023, inflation in Austria stood at 7.8%, but according to WIFO, it will slow to 3.4% by 2024 and 2.5% by 2025. Nevertheless, Austria is expected to remain in the top group of countries with the highest inflation rates in the eurozone. The main reasons for this are the significantly higher wage increases compared to the rest of the eurozone as well as extensive price indexation for…
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