- Inflation over the next 12 months seen at 3.4% (previously 3.9%)
- Inflation 3 years ahead seen at 2.3% (previously 2.5%)
The good news at least is that this points to lower inflation expectations, adding to evidence that the ECB's rate hikes are feeding through to the economy. However, consumers remain somewhat pessimistic about their overall wellbeing as they expect income to grow much more slowly (1.2%). The figure being lower than the anticipated inflation numbers does highlight some negativity surrounding their purchasing power.
