According to ECB’s Consumer Expectations Survey (CES) in August, inflation expectations were largely unchanged comparing with July. Nevertheless, mean inflation expectations for the 12 month ahead dropped slightly, and could have peaked. Growth expectations also improved.
On inflation:
- Mean expectations for 12 months ahead dropped from 7.1% to 6.9 (compares to 6.6% in June).
- Median expectations for 12 months ahead was unchanged at 5.0%.
- Mean expectations for 3 years ahead was unchanged at 4.7%.
- Median expectations for 3 years ahead was unchanged at 3.0%.
On growth:
- Mean growth expectations for next 12 months improved from -1.9% to -1.7%.
- Median growth expectations for next 12 months improved from -0.1% to 0.0%.
