Eurozone consumers expect inflation of 2.8 percent over the next 12 months, according to a European Central Bank (ECB) survey for May.
The result shows that consumer inflation expectations are lower than in April when they were 2.9 percent and at the same time the lowest since September 2021.
Eurozone citizens expect inflation of 2.3 percent over the next three years, also down slightly from 2.4 percent in April, according to the ECB’s website, SEEbiz reports.
Consumers believe that their nominal income will grow by 1.2 percent in the next 12 months, i.e. significantly slower than the inflation rate.
Eurozone citizens surveyed expect a slight economic decline of 0.8 percent in the next year, as well as unemployment of 10.7 percent, Fena writes.
