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1 and 3-Year Consumer Inflation Expectations Edge Down Slightly

EUROZONE DATA
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Eurozone consumer inflation expectations for the 1-year ahead horizon edged down slightly to +2.9% Y/Y, in-line with consensus (from +3.0% Y/Y prior) - making it the lowest level since September 2021. Similarly, median expectations for 3-year ahead inflation slowed down to +2.4% Y/Y (vs +2.5% Y/Y consensus, +2.5% Y/Y prior), as measured by the ECB's CES survey.

  • Consumer expectations for nominal income growth remained stable at +1.3%, as did expectations for nominal spending growth over the next 12 months at +3.6%.
  • Also to note, economic growth expectations for the next 12 months were less negative at -0.8% vs -1.1% in March.

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Eurozone consumer inflation expectations for the 1-year ahead horizon edged down slightly to +2.9% Y/Y, in-line with consensus (from +3.0% Y/Y prior) - making it the lowest level since September 2021. Similarly, median expectations for 3-year ahead inflation slowed down to +2.4% Y/Y (vs +2.5% Y/Y consensus, +2.5% Y/Y prior), as measured by the ECB's CES survey.

  • Consumer expectations for nominal income growth remained stable at +1.3%, as did expectations for nominal spending growth over the next 12 months at +3.6%.
  • Also to note, economic growth expectations for the next 12 months were less negative at -0.8% vs -1.1% in March.