ECB SPF survey sees rise in short- and long-term inflation expectations

In its quarterly Survey of Professional Forecasters (SPF), the European Central Bank (ECB) expects Eurozone short- and long-term inflation expectations higher.

Key takeaways  

Sees 2022 inflation at 7.3% vs 6.0% seen 3 months ago; 2023 seen at 3.6% vs 2.4%.

Sees 2024 inflation at 2.1% vs 1.9% 3 months ago; longer-term seen at 2.2% vs 2.1%.

2022 GDP growth seen at 2.8% vs 2.9% forecast 3 months ago, 2023 seen at 1.5% vs 2.3%.

Longer-term core inflation expectations rise to 2.2% from 1.9%.

Intensifying energy price pressures, tightening of monetary policy, weakening of household purchasing power a drag on growth.