Eurozone consumers' inflation expectations for the next 12 months have reached their lowest level since December 2021, the European Central Bank's monthly survey showed on Friday.
The ECB Consumer Expectations Survey for March showed median inflation expectations for the next 12 months fell to 3.0% from 3.1% in February.
The ECB has set an inflation target of 2.0%.
The results come from an ECB survey of around 19,000 consumers aged 18 and over in 11 eurozone countries.
The perceived inflation rate for the past 12 months was 5.0%, down from 5.5% in February for the sixth consecutive month.
Inflation in the euro zone slowed to 2.4% in March from 2.6% in February, official data showed. Core inflation, which excludes food and energy prices, slowed to 2.9% from 3.1% the previous month.
Meanwhile, the survey showed that the expected inflation rate for the next three years was 2.5%, flat for the fourth straight month.
Consumers' expectations for income growth fell slightly from 1.4% to 1.3%. The forecast for spending growth over the next 12 months fell to 3.6% from 3.7%.
The ECB survey showed that households expect economic growth to continue at a negative 1.1% over the next 12 months.
However, the expected unemployment rate 12 months from now has fallen from 10.9% to 10.7%.
According to the ECB, consumers continue to expect the future unemployment rate to be only slightly higher than the current perceived unemployment rate of 10.4%, suggesting that the labor market is broadly stable. are doing.
According to the survey, consumers expected house prices to rise 2.4% over the next 12 months, unchanged from February.
Mortgage interest rate expectations for the next 12 months fell slightly from 5.1% to 5.0%.
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