Look for:

Our offer for

Research Detail

2021/11/05 / Erste Group Research

Will inflation continue to rise?

In October, Eurozone inflation rose sharply to +4.1% y/y. After the momentum of the rise in energy prices picked up again significantly in October. With energy prices having fallen somewhat recently, the upward pressure from the energy component should ease in the short term. With the expiry of base effects, monthly inflation rates are expected to decline from January 2022 at the latest.

Against the backdrop that Eurozone energy prices are likely to settle at a sustainably higher level, we have raised our inflation forecast for 2021 to +2.4% (previously 2.2%) and for 2022 to +2.3% (previously +1.8%). We do not expect upward pressure from energy prices to drop significantly until 2023.

PDF Download Download PDF (174kB)

General information

AuthorErste Group Research
Product nameWeek ahead
Topic in focusMacro/ Fixed income
Economy in focusEurozone, United States
Currency in focusEuro, US Dollar
Sector in focus-


We use cookies and web analysis software to give you the best possible experience on our website. If you consent, these tools will be used. For more details please read our Data protection policy.


Any information, material and services regarding financial instruments and securities provided by Česká spořitelna/Erste Group/ or any of its affiliates (collectively “Erste Group“) on this and any linked website hereafter (jointly the “Websites“) shall be exclusively to investors who are not subject to any legal sale or purchase restrictions.

By agreeing to this hereto, the visitor entering this Websites confirms that has read, understood and accepted this Information and the Disclaimer