The survey of professional forecasters of the European Central Bank (ECB) released on Friday showed that respondents forecast an increase in the coming years, while expecting inflation to be just below the central bank’s 2% target in 2022.
In the publication, it is highlighted that respondents estimate on average that inflation in the Eurozone in 2021 at 2.3% compared to 1.9% three months ago. That of 2022 is estimated at 1.9% against the previous 1.5% and for 2023 at 1.7%.
With respect to growth, the average of the survey sees an advance of the GDP for 2021 in 5.1% compared to 4.7% seen three months ago and for 2022 in 4.5%.
“Respondents attributed the upward revisions mainly to rising energy prices and the impact of supply chain tensions“the document reads.