Eurozone Inflation Expectations Remain Unchanged
July 26 2024 - 2:08AM
RTTF2
Eurozone consumers' inflation expectations remained stable in
July, the latest consumer expectations survey published by the
European Central Bank showed on Friday.
Inflation expectations for the coming year was steady at 2.8
percent after having fallen in May to their lowest level since
September 2021.
Inflation expectations for the next three years also remained
unchanged in July, at 2.3 percent.
However, economic expectations became more negative. The median
forecast for economic growth over the next 12 months dropped to
-0.9 percent from -0.8 percent in May.
Meanwhile, expectations for the unemployment rate over the
coming twelve months decreased to 10.6 percent from 10.7 percent in
May, the lowest level since the start of the series.
Further, consumers expect prices of their homes to increase over
the next twelve months in June. House prices were expected to rise
2.7 percent compared to 2.6 percent in May, while expectations for
mortgage interest rates edged down to 4.8 percent from 4.9
percent.
Earlier this month, the European Central Bank left its benchmark
interest rates unchanged ahead of a possible rate reduction in
September even as they worry about the sticky inflation.
In June, the ECB cut interest rates for the first time since
2019, citing an improvement in the inflation outlook.
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