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1 and 3-Year Consumer Inflation Expectations Remain Unchanged

EUROZONE DATA
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Eurozone consumer inflation median expectations for both the 1-year and 3-year ahead horizon remained unchanged in June at 2.8% Y/Y and 2.3% Y/Y, as measured by the ECB's CES survey

  • The 1-year ahead median inflation expectation therefore remained at the lowest level since September 2021.
  • Meanwhile, consumer nominal income growth mean expectations for the year ahead increased to 1.4% from 1.2% in May - returning it to the 2024 high reached in February.
  • The economic growth mean expectation for the year ahead weakened to -0.9% from -0.8% in May - although higher than March's -1.1% reading.
  • Finally of note, the mean expected unemployment rate in the next 12 months decreased to 10.6% from 10.7% in May - the lowest since the start of the series.

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Eurozone consumer inflation median expectations for both the 1-year and 3-year ahead horizon remained unchanged in June at 2.8% Y/Y and 2.3% Y/Y, as measured by the ECB's CES survey

  • The 1-year ahead median inflation expectation therefore remained at the lowest level since September 2021.
  • Meanwhile, consumer nominal income growth mean expectations for the year ahead increased to 1.4% from 1.2% in May - returning it to the 2024 high reached in February.
  • The economic growth mean expectation for the year ahead weakened to -0.9% from -0.8% in May - although higher than March's -1.1% reading.
  • Finally of note, the mean expected unemployment rate in the next 12 months decreased to 10.6% from 10.7% in May - the lowest since the start of the series.