Euro zone consumers raise inflation expectations in headache for ECB
The ECB’s Consumer Expectation Survey, carried out in September and released on Wednesday, showed the median respondent thought inflation would be 4.0% in the next 12 months, up from 3.5% in August and climbing to the highest level since the spring.
The ECB also raised its inflation forecast for 2024 in September, mainly as a result of higher energy prices, as it raised interest rates to record highs.
It now expects prices to rise by 5.6% this year, 3.2% in 2024 and 2.1% in 2025.