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.
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.
ALCHEMPro News Desk (DS)
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