We believe that the sustainable component

Inflation will return to 4% by the end lead generation (2023 guide to generating leads and sales) of next year. This is what corresponds to the forecast of 4-4.5%, it is not 4%, but 4-4.5% due to the fact that we are reaching the target from above. In the first half of the year, the current rate of price growth will probably be slightly higher than 4%, accordingly, on average for the year it will be slightly higher than 4%, even if the price growth at the end of next year will already be 4%.

This is exactly the same as after the low

inflation of 2019, our forecast for 2020 for inflation was 3.5-4%, because we converg on the target from below. As a result, life made its own adjustments, and inflation in 2020 accelerated more significantly.

A significant portion of the one-time factors

Have already been realized at the current moment will indeed disappear by the end of next year, although this applies to a greater extent, for example, to food. In terms of such longer-term factors, which have you assessed what inflation are also usually called temporary, that is, bottlenecks in production chains agb directory and logistics (containers, microchips, etc.), in all likelihood, these factors may continue to operate in some part in the second half of next year. But their role will probably be noticeably less than this year.

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