The ECB’s September Consumer Expectations Survey showed a modest easing in near-term inflation expectations, with the median outlook for the next 12 months slipping to 2.7% from 2.8%.
Expectations for three years ahead were unchanged at 2.5%, while five-year projections held steady at 2.2%, suggesting longer-term views remain well anchored. Uncertainty around the 12-month outlook also stayed unchanged, indicating little shift in household sentiment.
On the growth side, consumers’ expectations for economic performance over the next year remained negative but stable, holding at –1.2%. The data continue to reflect subdued confidence in the near-term recover.
Unemployment expectations were similarly steady at 10.7% for the 12-month horizon, signaling limited change in labor-market sentiment.
