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MNI BRIEF: ECB Forecaster Survey Sees 2024 Inflation At 1.9%

ECB
(MNI) London

Professional forecasters have revised their 2022 and 2023 inflation outlooks sharply higher and left their medium-term outlook for 2024 unchanged, despite the growing uncertainties from the ongoing war in Ukraine, the European Central Bank's latest survey.

  • HICP inflation expectations were revised up by 3.0 percentage points for 2022 and 0.6 percentage points for 2023 but unchanged for 2024, standing at 6.0%, 2.4% and 1.9% for 2022, 2023 and 2024 respectively, the April Professional Forecasters' Survey shows..
  • According to the survey, the upward revision for 2022 mainly reflects higher expected energy and food price inflation. Longer-term inflation expectations (for 2026) were revised upward by another 0.1 percentage point to stand on average at 2.1%.
  • Expectations for core inflation (excluding energy, food, alcohol and tobacco) were also revised up, particularly for 2022 and 2023.

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Professional forecasters have revised their 2022 and 2023 inflation outlooks sharply higher and left their medium-term outlook for 2024 unchanged, despite the growing uncertainties from the ongoing war in Ukraine, the European Central Bank's latest survey.

  • HICP inflation expectations were revised up by 3.0 percentage points for 2022 and 0.6 percentage points for 2023 but unchanged for 2024, standing at 6.0%, 2.4% and 1.9% for 2022, 2023 and 2024 respectively, the April Professional Forecasters' Survey shows..
  • According to the survey, the upward revision for 2022 mainly reflects higher expected energy and food price inflation. Longer-term inflation expectations (for 2026) were revised upward by another 0.1 percentage point to stand on average at 2.1%.
  • Expectations for core inflation (excluding energy, food, alcohol and tobacco) were also revised up, particularly for 2022 and 2023.