Core inflation in Austria is not expected to ease until 2024 due to rising wages and the indirect effect of energy prices, said central bank governor Robert Holzmann on Thursday, based on the 2023-2025 inflation forecast released by the OeNB central bank.

Inflation, excluding energy and food, is expected to rise to 5.6% this year, said Holzmann, who added that price pressures will remain high in almost all sectors in 2023 except energy, which is not expected to continue its unprecedented rise. (Writing by Miranda Murray Editing by Paul Carrel)