Austria’s central bank OeNB revised upwards its inflation forecasts for 2022 through 2024, citing surging energy prices and wage costs.
The bank said it now expects Austria’s annual inflation rate to stand at 8.5 percent in 2022, up from its projection of 7.6 percent in July, reports Xinhua news agency.
Meanwhile, it has projected 6.4 percent inflation in 2023, and 3.7 percent in 2024, saying that anti-inflation measures may fail to have a significant impact.
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Soaring energy prices have continued to drive up inflation in the country, which stood at 9.3 percent in August, according to Statistics Austria.
Austria
The Austrian government has introduced several anti-inflation packages to support households and companies, including direct payments to families.
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