Eurozone Consumers Halt Decline in Inflation Expectations in June

According to a European Central Bank survey released on Friday, Eurozone consumers' inflation expectations remained stable in June after decreasing for four consecutive months. The ECB's Consumer Expectations Survey is a key tool used by central bankers across the euro zone's 20 countries to assess public confidence in their ability to achieve their 2% inflation target.

The latest survey revealed that the median consumer anticipated an average inflation rate of 2.8% over the next 12 months, unchanged from May and a decrease from 3.3% in January. Inflation expectations for three years ahead were also steady at 2.3%, the same as the previous month.

The ECB lowered interest rates in June and is expected to do so again in September, as it projects inflation will gradually approach the 2% target by the end of next year following a significant price surge in 2021-2022.

Paraphrasing text from "Reuters" all rights reserved by the original author.