FRANKFURT (Reuters) – Euro zone consumers’ short-term inflation expectations fell in February, but longer-term expectations remained unchanged, according to a survey released on Tuesday by the European Central Bank (ECB).
Consumers now expect inflation to be 3.1% for the coming year, compared to 3.3% expected the previous month, according to the monthly survey.
“These expectations are now at their lowest since the start of Russia’s unjustified war against Ukraine in February 2022,” the ECB said in a statement.
Over the next three years, the median inflation expectation reaches 2.5%.
Economic growth forecasts for the next 12 months also remained unchanged, with consumers expecting a slight contraction in activity, while the unemployment rate in the coming 12 months is expected to be stable, the ECB added.
(Report by Balazs Koranyi, French version Corentin Chappron, edited by Blandine Hénault)
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