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Euro area consumers’ inflation expectations for the year ahead and those for the five years ahead increased in August, a monthly survey by the European Central Bank showed on Friday.
Median expectations for Eurozone inflation over the next 12 months increased to 2.8 percent from 2.6 percent in July, results of the ECB Consumer Expectations Survey revealed.
Price growth expectations for three years were unchanged at 2.5 percent. However, those for inflation in five years ahead climbed to 2.2 percent, which is the highest since August 2022.
The survey also showed that consumers’ income as well as spending growth expectations for the next 12 months increased. Economic growth expectations were stable in the negative territory and unemployment expectations grew.
That said, the expected future unemployment rate of 10.7 percent was only slightly higher than the perceived current unemployment rate of 10.1 percent, suggesting a broadly stable labor market outlook, the survey said.
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