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

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

 

 

Source: Investing.com

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