Euro zone consumers cut inflation expectations
Euro zone consumers in April lowered their inflation expectations for next year by a tenth of a percentage point to 2.9%, the lowest since September 2021, it was reported on Monday.
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Economia Zona Euro
Consumers also revised down their inflation expectations for the next three years, to 2.4% in April from 2.5% in March, the European Central Bank (ECB) said on Thursday.
Specifically, respondents saw inflation averaging 5% over the last year, unchanged from March and ending a six-month run of declines.
Euro zone inflation was unchanged in April at an annual rate of 2.4%, ending three straight months of declines, while underlying inflation — which excludes the more volatile energy and food components — eased by two-tenths to 2.7%, data from EU statistics office Eurostat showed.
On the income side, respondents in April expected their income to grow by 1.3% over the next year, the same as the previous month, while expectations for spending growth over the next 12 months also remained unchanged at 3.6%.
Consumers in April saw the economy shrinking by 0.8% next year, down from 1.1% in March, and the unemployment rate at 10.9%, up two-tenths of a percentage point from the previous forecast.
They also saw house prices rising by 2.6% over the next 12 months, up two-tenths from March, but kept their expectations for mortgage interest rates unchanged at 5%.
See Also: Consumer Inflation Expectations Linked to Age and Income (Portuguese version)
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