ECB Survey: Consumers see inflation higher for year ahead at 3.3% in January

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Inflation expectations among Eurozone consumers edged higher from 3.2% in December to 3.3% in January for the next 12 months, the European Central Bank’s (ECB) monthly Consumer Expectation Survey showed on Friday.

“Median expectations for inflation over the next 12 months rose to 3.3% in January from 3.2% December, while expectations for three years ahead remained unchanged at 2.5%.”

“The survey showed that expectations for nominal income growth remained unchanged at 1.2%, but consumers persistently underestimate wage growth and the ECB expects compensation per employee to rise by 4.6% this year.”

At the press time, EUR/USD is holding steady near 1.0821, despite rising inflation expectations.

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