The inflation rate is higher than the last forecast, long-term inflation expectations, according to the European Central Bank's (ECB) quarterly expert forecast survey (SPF) on the euro area economy on the 22nd of July. Also exceeded the ECB's target of 2%.
According to the survey, the rate of increase in consumer prices this year is expected to be 7.3%, and next year it is expected to be 3.6%. In the previous survey, it was 6.0% and 2.4%, respectively.
The long-term interest rate forecast was 2.2%, which was higher than the previous 2.1%. Inflation expectations also rose from 1.9% to 2.2%, the highest growth rate since the survey began.
On the other hand, the growth rate forecast is 2.8% this year and 1.5% next year, down from the previous forecast of 2.9% and 2.3%.
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