Consumers' inflation expectations in eurozone for next 12 months down to 3.2%

ISTANBUL

According to a European Central Bank consumer survey released on Tuesday, inflation is expected to be at around 3.2% over the next 12 months in the euro area, down from a 4% expectation in its previous survey in December.

The survey predicts that inflation over the next three years will be at 2.2%, down from an earlier 2.5% expectation, the bank stressed.

"Inflation expectations, both at the one-year and three-year horizons, declined to their lowest levels since February 2022," the bank noted.

It also said uncertainty about inflation for the next 12 months declined slightly.

"Consumers expected their nominal income over the next 12 months to grow by 1.2%, which was a slightly higher rate than in October," it added.