Eurozone consumers see inflation at 2.8% in the next 12 months – ECB survey

• Median expectations for inflation over the next 12 months seen at 2.8% (unchanged vs May)
• Median expectations for inflation three years ahead seen at 2.3% (unchanged)
• Median rate of perceived inflation over the previous 12 months seen at 4.5% (previously 4.9%)
• Economic growth expectations for the next 12 months seen at -0.9% (previously -0.8%)

The headline finding is similar to May and marks the lowest level since September 2021. Meanwhile, uncertainty about inflation expectations over the next 12 months also remained unchanged at its lowest level since February 2022. Overall, it points to consumers still feeling better on the inflation outlook but the levels are still not quite where the ECB desires just yet.

This article was written by Justin Low at www.forexlive.com.