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Inflation expectations during the month remained well below the perceived past inflation rate, particularly at the medium-term horizon of three years, ECB said in a release.
Consumer expectations across the European Union this October for inflation 12 months ahead increased further compared to September, while expectations for inflation three years ahead remained unchanged at 3 per cent, the European Central Bank said. Expectations for economic growth and unemployment over the next 12 months declined and rose respectively.
Expectations for both nominal spending and income growth over the next 12 months increased, and expected spending growth continued to outpace expected income growth.
Perceived inflation over the previous 12 months continued to rise, with the median rate now standing at 9.9 per cent. Median expectations for inflation over the next 12 months increased from 5.1 per cent to 5.4 per cent.
Fibre2Fashion News Desk (DS)
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