MNI BRIEF: February EZ Inflation Expectations Little Changed

Eurozone consumer inflation expectations for the next 12 months inched higher to 3.3% in January from 3.2% in December, an ECB survey showed.

Expectations for the next three years -- more closely watched by policymakers -- were unchanged at 2.5%. Inflation expectations at the one-year and three-year horizons remained well below the perceived past inflation rate of 6.0%, but uncertainty about inflation expectations over the next 12 months remained unchanged.

The ECB rejigged its Consumer Expectations Survey earlier this month, adding five new countries to the survey. (See MNI BRIEF: Rejigged Inflation Expectations Mixed - ECB)

As ECB policymakers keep a close eye on bank lending data, consumers' perceived access to credit over the previous 12 months eased slightly compared with December, although access to credit was expected to become easier over the next 12 months. (see MNI SOURCES: ECB Cut Expectations Range From 50-100BP In 2024)