MNI BRIEF: Professional Forecasters Up Inflation Outlook: ECB
Professional economic forecasters have upped their outlook from Eurozone inflation, latest ECB survey shows.
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.