“Everyone is feeling it” – The avalanche of costs will be even more dramatic in 2023

inflation. The (un)word of the year causes fear and will not lose its fear next year. On the contrary. There is currently a record inflation rate of 10.5 percent since 1952. Upward trend. That is the prediction of experts. Agenda Austria has the latest figures and analyzes ready, which will be published on Monday. Agenda economist Marcell Göttler: “From 2015 to 2023, producer prices will rise by 45 percent. That goes hand in hand with consumer prices.”

Prices are passed on, that is the logic of the market. Prices have risen dramatically since the end of Corona and lockdowns. Everyone feels it. Whether for food or heating. “You can see that in the dramatic price increases at Wien Energie,” says Göttler. Producers indicated the direction for domestic developments. It doesn’t matter what is exported. “We will see further increases in the coming months.”

Producer prices will be the driving force behind inflation for the coming months. “Consumer prices rarely fall,” says the economist. Even if inflation stops rising so sharply and is only two to five percent, prices will remain high. Only the dynamics can be slowed down. Products rarely get cheaper, as everyone knows. Since 2015, consumer prices have risen by about 24 percent. Of course they are lagging behind the producers. “It’s not going to increase to 50 percent here, but gradually. You have to look at the industry. It’s kind of a seismograph for cost developments.”

The pressure will decrease
There is no end in sight. Göttler hopes the process will be slowed down. “But we expect things to accelerate in the coming months.” The government continues to be under pressure. Until it’s worked out, there will likely be more packs to put together.