Global inflation is expected to remain persistently elevated in the coming years, according to a recent survey conducted by the Ifo Institute and released today.
Economists surveyed anticipate a global inflation rate of 4.0 percent on average for 2025, consistent with expectations from the previous quarter. Projections for Germany remain stable at 2.4 percent for 2025 and 2.3 percent for 2026 and 2028. “Inflation expectations have stabilized at a high level – both in the short term and with a view to the coming years” stated Ifo researcher Philipp Heil. Experts cite ongoing trade disputes and import duties as significant drivers of this sustained inflationary pressure.
The survey also forecasts a global average of 3.9 percent for 2026 and 3.7 percent for 2028, indicating a stagnation of longer-term expectations at a relatively high level.
Regional disparities are apparent, with West European inflation expectations at 1.8 percent for 2025 falling below the European Central Bank’s target of two percent. Conversely, expectations for Eastern Europe and Asian countries remain considerably higher. Economists predict inflation in the United States will rise from 3.1 percent this year to 3.7 percent in the next. US tariffs on imports are frequently cited as a key factor in this projected increase. The highest inflation rates are anticipated across much of Africa, with some regions potentially exceeding 20 percent.
The survey, conducted between June 17th and July 1st, 2025, included responses from 1,340 economic experts representing 121 countries.