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MNI BRIEF: Professional Forecasters Up Inflation Outlook: ECB

(MNI) London

Professional forecasters have revised up their inflation expectations for both 2023 and 2024 to stand at 5.9% and 2.7% respectively, the ECB's latest survey shows.

The Q1 survey showed an increase from 5.8% and 2.4% respectively. The outlook for 2025 -- a first in this survey -- was 2.1%, while the longer-term inflation expectation was revised lower to 2.1% from 2.2% in the Q4 reading. According to the survey, the upward revisions primarily reflect changes to expectations for core inflation.

GDP growth expectations were largely unchanged with positive carry-over from stronger than expected economic activity in the second half of 2022 affecting 2023,but being offset by slightly weaker expectations for 2024 than previously reported.

MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

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