Median consumer inflation expectations in the Eurozone were unchanged at 2.6% in July 2025, remaining at the lowest since February. Expectations for inflation three years ahead increased to 2.5% from 2.4%, while expectations for five years ahead held steady at 2.1% for the eighth consecutive month. Lower income quintiles continued to report on average slightly higher inflation perceptions and short-horizon expectations than higher income quintiles, a trend observed since 2023. However, the broad evolution of inflation perceptions and expectations remained relatively closely aligned across income groups. Younger respondents (aged 18-34) continued to report lower inflation perceptions and expectations than older respondents (aged 35-54 and 55-70), albeit to a lesser degree than in previous years. In addition, economic growth expectations for the next 12 months became more negative (-1.2% vs -1%) and expectations for the unemployment rate 12 months ahead increased to 10.6% from 10.3%. source: European Central Bank

Inflation Expectations In the Euro Area remained unchanged at 2.60 percent in July. Inflation Expectations in Euro area averaged 3.23 percent from 2020 until 2025, reaching an all time high of 5.80 percent in October of 2022 and a record low of 1.90 percent in October of 2020. This page includes a chart with historical data for Euro Area Inflation Expectations. Euro Area Inflation Expectations Over the Next 12 months - data, historical chart, forecasts and calendar of releases - was last updated on September of 2025.

Inflation Expectations In the Euro Area remained unchanged at 2.60 percent in July. Inflation Expectations in Euro area is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Inflation Expectations Over the Next 12 months is projected to trend around 2.50 percent in 2026 and 2.00 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-07-29 08:00 AM
ECB Consumer Inflation Expectations
Jun 2.6% 2.8% 2.9%
2025-08-29 08:00 AM
ECB Consumer Inflation Expectations
Jul 2.6% 2.6% 2.7%
2025-09-26 09:00 AM
ECB Consumer Inflation Expectations
Aug 2.6%


Related Last Previous Unit Reference
Core Inflation Rate YoY 2.30 2.30 percent Aug 2025
Food Inflation 3.20 2.90 percent Jul 2025
Consumer Inflation Expectations 2.60 2.60 percent Jul 2025
Inflation Rate YoY 2.10 2.00 percent Aug 2025
Inflation Rate MoM 0.20 0.00 percent Aug 2025

Euro Area Inflation Expectations Over the Next 12 months
In the Euro Area, inflation expectations refer to the median expectations for inflation over the next 12 months and are part of the Consumer Expectations Survey published by the ECB. The results include responses from Belgium, Germany, Spain, France, Italy, the Netherlands, Ireland, Greece, Austria, Portugal, and Finland, with the poll's coverage at 96% of the euro area’s GDP and 94% of its population.
Actual Previous Highest Lowest Dates Unit Frequency
2.60 2.60 5.80 1.90 2020 - 2025 percent Monthly

News Stream
Eurozone Consumer Inflation Expectations Steady at 2.6%
Median consumer inflation expectations in the Eurozone were unchanged at 2.6% in July 2025, remaining at the lowest since February. Expectations for inflation three years ahead increased to 2.5% from 2.4%, while expectations for five years ahead held steady at 2.1% for the eighth consecutive month. Lower income quintiles continued to report on average slightly higher inflation perceptions and short-horizon expectations than higher income quintiles, a trend observed since 2023. However, the broad evolution of inflation perceptions and expectations remained relatively closely aligned across income groups. Younger respondents (aged 18-34) continued to report lower inflation perceptions and expectations than older respondents (aged 35-54 and 55-70), albeit to a lesser degree than in previous years. In addition, economic growth expectations for the next 12 months became more negative (-1.2% vs -1%) and expectations for the unemployment rate 12 months ahead increased to 10.6% from 10.3%.
2025-08-29
Euro Area Inflation Expectations Down for 2nd Month
Median consumer inflation expectations in the Eurozone fell for a second consecutive month to 2.6% in June 2025, the lowest in four months, compared to 2.8% in May. Expectations for three years ahead were unchanged at 2.4%, while expectations for inflation five years ahead held steady at 2.1% for the seventh consecutive month. Younger respondents continued to report lower inflation perceptions and expectations than older respondents, although the gap was narrower than in previous years. Meanwhile, consumers’ expectations for nominal income growth over the next 12 months remained unchanged at 1% in June but expected nominal spending growth decreased further to 3.2% from 3.5% in May. In addition, economic growth expectations for the next 12 months became less negative (-1% vs -1.1%) and expectations for the unemployment rate 12 months ahead edged down to 10.3% from 10.4%
2025-07-29
Euro Area Inflation Expectations Fall in May
Median consumer inflation expectations in the Eurozone fell to 2.8% in May 2025, the lowest in three months, compared to 3.1% in April. Expectations for three years ahead also decreased to 2.4% from 2.5% while expectations for inflation five years ahead were unchanged at 2.1% for the sixth consecutive month. In addition, uncertainty about inflation expectations decreased, with younger respondents continuing to report lower inflation perceptions and expectations than older respondents. Meanwhile, consumers’ nominal income growth expectations over the next 12 months increased to 1% from 0.9% but expected nominal spending growth went down to 3.5% from 3.7%. Economic growth expectations for the next 12 months became less negative, standing at -1.1% in May compared with -1.9% in April. Expectations for the unemployment rate 12 months ahead decreased to 10.4% from 10.5% in April.
2025-07-01