The European Central Bank (ECB) carried out a survey on consumer expectations regarding inflation, the main results of which are indicated below.
Perceived inflation over the previous 12 months continued to rise, with the average rate now standing at 7.9%, up from 7.2% in June.
Compared to the month of June, consumer expectations for inflation over the next 12 months remained unchanged at 5%while those of inflation three years ahead increased.
Consumers see 3-year inflation at 3%compared to 2.8% in June.
Consumers again slightly lowered their expectations of growth in the price of their home in the next 12 months, to 3.2%.
Expectations for 12-month forward mortgage interest rates continued to rise to 4.3% and are now 1.0% higher than in early 2022.
Economic growth expectations for the next 12 months decreased and unemployment expectations for 12 months from now increased.
Source: Fx Street