The latest ECB Consumer Expectations Survey results revealed stable inflation expectations but a more negative outlook for economic growth.
Median inflation expectations for the next 12 months remained unchanged at 2.8%, holding at their lowest level since September 2021. Similarly, inflation expectations for three years ahead stayed steady at 2.3%.
However, economic growth projections have taken a downturn. Expectations for growth over the next 12 months worsened, with the median forecast dropping to -0.9%, compared to -0.8% in May.
On a positive note, expectations for the unemployment rate in 12 months’ time decreased slightly to 10.6% from 10.7% in May, marking the lowest level since the series began.
ECB Consumer Expectations Survey release here.
