ECB survey: consumers' 12-month inflation expectations rise to 3.1%

The ECB said median expectations for inflation over the next 12 months "increased, to 3.1% from 3.0%", while expectations three and five years ahead were "unchanged at 2.9% and 2.5% respectively". Median perceived inflation over the past 12 months rose to 3.6% from 3.5%. Expected economic growth over the next 12 months fell to -1.5% from -1.2%, and the expected unemployment rate 12 months ahead rose to 11.3% from 11.0%. The ECB notes the results "do not represent the views of the ECB’s decision-making bodies or staff".