Median expectations for price growth over the next 12 months in the Euro Area edged up to 3.1% in September 2026, the most in four months, compared to 3% in August. Consumers also expect the price of their home to increase by 3.5% over the next 12 months, higher than 3.4% in August. Expectations for mortgage interest rates in 12 months’ time remained unchanged at 4.9%. Meanwhile, median expectations for inflation three years ahead and five years ahead were unchanged at 2.9% and 2.5% respectively. Elsewhere, expectations for nominal income growth over the next 12 months increased to 1.1% from 1% and expectations for economic growth over the next 12 months decreased to -1.5% from -1.2% in August. Expectations for the unemployment rate 12 months ahead increased to 11.3% from 11%. source: European Central Bank

Inflation Expectations In the Euro Area increased to 3.10 percent in September from 3 percent in August of 2026. Inflation Expectations in Euro area averaged 3.19 percent from 2020 until 2026, 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 Consumer Inflation Expectations - data, historical chart, forecasts and calendar of releases - was last updated on November of 2026.

Inflation Expectations In the Euro Area increased to 3.10 percent in September from 3 percent in August of 2026. Inflation Expectations in Euro area is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Consumer Inflation Expectations is projected to trend around 2.50 percent in 2027 and 2.10 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-18 08:00 AM
ECB Consumer Inflation Expectations
Aug 3% 2.9% 3.0%
2026-10-23 08:00 AM
ECB Consumer Inflation Expectations
Sep 3.1% 3% 3.2%
2026-12-03 09:00 AM
ECB Consumer Inflation Expectations
Oct 3.1% 3.2%


Related Last Previous Unit Reference
Core Inflation Rate YoY 2.50 2.50 percent Oct 2026
Food Inflation 1.00 0.70 percent Sep 2026
Consumer Inflation Expectations 3.10 3.00 percent Sep 2026
Consumer Inflation Expectations 3Y 2.90 2.90 percent Sep 2026
Consumer Inflation Expectations 5Y 2.50 2.50 percent Sep 2026
Inflation Rate YoY 4.00 3.80 percent Oct 2026
Inflation Rate MoM 0.40 0.60 percent Oct 2026


Euro Area Consumer Inflation Expectations
In the Euro Area, 12-month inflation expectations represent the median forecast for price increases over the next year, as measured by the European Central Bank’s (ECB) Consumer Expectations Survey. The survey covers key eurozone economies, including Belgium, Germany, Spain, France, Italy, the Netherlands, Ireland, Greece, Austria, Portugal, and Finland, encompassing 96% of the euro area’s GDP and 94% of its population.
Actual Previous Highest Lowest Dates Unit Frequency
3.10 3.00 5.80 1.90 2020 - 2026 percent Monthly
NSA

News Stream
Euro Area Consumer Inflation Expectations at 4-Month High
Median expectations for price growth over the next 12 months in the Euro Area edged up to 3.1% in September 2026, the most in four months, compared to 3% in August. Consumers also expect the price of their home to increase by 3.5% over the next 12 months, higher than 3.4% in August. Expectations for mortgage interest rates in 12 months’ time remained unchanged at 4.9%. Meanwhile, median expectations for inflation three years ahead and five years ahead were unchanged at 2.9% and 2.5% respectively. Elsewhere, expectations for nominal income growth over the next 12 months increased to 1.1% from 1% and expectations for economic growth over the next 12 months decreased to -1.5% from -1.2% in August. Expectations for the unemployment rate 12 months ahead increased to 11.3% from 11%.
2026-10-23
Euro Area Consumer Inflation Expectations Edge Up
Median expectations for price growth over the next 12 months in the Euro Area increased to 3% in August 2026 from 2.9%. Expectations for inflation three years ahead also increased, to 2.9% from 2.7%, while the five-year outlook went up to 2.5% from 2.4%. Uncertainty about expectations for inflation over the next 12 months decreased, but remained higher than the level prevailing before the start of the conflict in the Middle East. Lower-income households continued to perceive and anticipate higher inflation than higher-income groups, while younger consumers maintained more moderate expectations than older respondents. Also, expectations for nominal income growth were unchanged at 1%. Those for economic growth remained at -1.2% while expectations for the unemployment rate 12 months ahead decreased to 11% from 11.2%. In addition, consumers expected the price of their home to increase by 3.4% over the next 12 months and mortgage interest rates to increase 4.9%, the same as in July.
2026-09-18
Euro Area Inflation Expectations Fall for 3rd Month
Median expectations for price growth over the next 12 months in the Euro Area eased to 2.9% in July 2026 from 3% in June. Expectations for inflation three years ahead also declined, to 2.7% from 2.8%, while the five-year outlook remained unchanged at 2.4%. However, uncertainty surrounding near-term inflation expectations remained elevated compared with levels seen before the Middle East conflict. Lower-income households continued to perceive and anticipate higher inflation than higher-income groups, while younger consumers maintained more moderate expectations than older respondents. Expected nominal income growth over the next year edged down to 1%, while spending-growth expectations held steady at 3.6%. Consumers also became slightly less pessimistic about economic activity, with expected growth improving to -1.2% from -1.4%. Meanwhile, home-price growth expectations were stronger among lower-income households, averaging 4%, compared with 3.1% among the highest-income group.
2026-08-21