MNI BRIEF: EZ Consumers' Inflation Outlook Unchanged - ECB

Inflation expectations for both 1- and 3-years ahead were unchanged on 3 months ago, a European Central Bank survey of consumers expectations published Friday showed, offering further hope to policymakers that a leading prices anchor remains in place. According to the latest Consumer Expectations Survey, prices were seen higher by 5.0% in 12 months time and 3.0% in 3 tears, both unchanged on the July survey.

The data will come as a relief to many at the ECB. In recent week, Executive Board member Isabel Schnabel has been just one of the Governing Council members to point to the need to keep expectations firmly anchored.

Schnabel, who has also advocated keeping a much closer policy tie to actual inflation outcomes as well, will have noticed that consumers have correctly assessed the rising level of current prices gains, with perceived inflation over the last 12 months seen at 8.0%, edging up from 7.9% in July.