Economic Buzz: ECB says consumers expectations for inflation over the next 12 months edge higher

European Central Bank stated today that according to Consumer Expectations Survey results, in August the median rate of perceived inflation over the previous 12 months was 3.5%, the same as in July. Median expectations for inflation over the next 12 months increased to 3.0% from 2.9% in July, while median expectations for inflation three years ahead increased to 2.9% from 2.7% in July and median expectations for inflation five years ahead increased to 2.5% from 2.4% in July. Uncertainty about expectations for inflation over the next 12 months decreased, but remained higher than the level prevailing before the start of the conflict in the Middle East.

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