Rising energy and food prices, inflation at record high: in Austria and Europe more and more people are coming under financial pressure, but the end of inflation is not yet in sight. What should we prepare for, what role does the European Central Bank play and how can individuals protect themselves against depreciation – krone.tv presenter Jana Pasching talks about this with her guest Josef Baumgartner, economist at the Austrian Institute for Economic Research .
Wifo economist Josef Baumgartner expects further sharp price increases. According to the expert, inflation is likely to cross the ten percent threshold in September. Since gas prices are the main drivers of inflation, they need to be tempered, for example through subsidies to power producers, so that they don’t have to pass on sky-high prices to customers. A model that comes with high costs. But if done properly, Baumgartner says this would have a further inflation dampening effect, in addition to the electricity price cap already set by the government, which will also dampen inflation.
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Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
