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

(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.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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