Austria's OeNB national bank revised up its inflation forecasts for 2022 through 2024 on Friday, citing higher energy prices and labour costs.

For 2022, the bank now sees the consumer price index, harmonised to make it comparable with inflation data from other European Union countries (HICP), at 8.5%.

Inflation is expected to be at 6.4% in 2023 and 3.7% in 2024, the bank said its latest forecast. (Writing by Miranda Murray, editing by Rachel More)