Data from a survey conducted by the European Central Bank (ECB) with consumers in October was released today.
Eurozone consumers predicted an inflation rate of 2.5% for the next three years (unchanged from the previous survey) and 2.2% for the next five years (unchanged from the previous survey).
Consumers perceived an inflation rate in the eurozone of 3.1% in October, consistent for the ninth consecutive month.
The year-on-year inflation rate in the eurozone dropped to 2.1% in October, down by one-tenth of a percentage point from the previous month.
Uncertainty around inflation expectations for the next twelve months remained stable in October, according to the ECB.
Eurozone consumers expect the region’s economy to contract by 1.1% in the next twelve months, compared to a decline estimate of 1.2% in the September survey.
Similarly, consumers anticipate unemployment in the eurozone over the next twelve months to reach 11%, up from an estimate of 10.7% in the September survey.
