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- ECB Survey: Consumers see inflation at 5.4% over the next 12 months
ECB Survey: Consumers see inflation at 5.4% over the next 12 months
The European Central Bank (ECB) conducted a survey of consumer expectations for inflation, with the key findings noted below.
Median expectations for inflation over the next 12 months increased from 5.1% to 5.4%.
Median expectations for inflation three years ahead were unchanged at 3.0%.
Consumers expected their nominal income to grow by 0.7% over the next 12 months, up from 0.6% in September.
Economic growth expectations for the next 12 months declined from -2.4% in September to -2.6%.
Consumers expected the growth in the price of their home over the next 12 months to slow to 3.0% from 3.4% in September.
The previous survey results saw consumers expecting Eurozone inflation at 5.1% over the next 12 months.
Market reaction
The above survey findings fail to impress Euro bulls, as EUR/USD holds near-intraday highs of 1.0480, at the time of writing. The pair is trading 0.05% higher on the day.
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