Central Banks

Euro zone consumers raise inflation expectations in headache for ECB

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Euro zone consumers raise inflation expectations in headache for ECB

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The ECB’s Consumer Expectation Survey, carried out in September and released on Wednesday, showed the median respondent thought inflation would be 4.0% in the next 12 months, up from 3.5% in August and climbing to the highest level since the spring.

The ECB also raised its inflation forecast for 2024 in September, mainly as a result of higher energy prices, as it raised interest rates to record highs.

It now expects prices to rise by 5.6% this year, 3.2% in 2024 and 2.1% in 2025.

This article was written by Ryan Paisey at www.forexlive.com. Source