Eurozone median inflation expectations for the next 12 months fell for a second consecutive month to 3% in June 2026, the lowest since February, from 3.5% in May. Consumers expect the price of their home to increase by 3.4% over the next 12 months, compared with 3.6% in May. Expectations for mortgage interest rates went up to 5% from 4.9%. Meanwhile, expectations for inflation three years ahead also declined to 2.8% from 2.9% while expectations for inflation five years ahead remained unchanged at 2.4%. Uncertainty about inflation over the next 12 months decreased for the second consecutive month, but remained higher than the level prevailing before the start of the war in the Middle East. Elsewhere, expected nominal spending growth over the next 12 months decreased to 3.6% from 3.8% in May. Expectations for economic growth over the next 12 months increased to -1.4% from -1.7% and expectations for the unemployment rate 12 months ahead decreased to 11.2% from 11.3% in May. source: European Central Bank

Inflation Expectations In the Euro Area decreased to 3 percent in June from 3.50 percent in May of 2026. Inflation Expectations in Euro area averaged 3.20 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 July of 2026.

Inflation Expectations In the Euro Area decreased to 3 percent in June from 3.50 percent in May of 2026. Inflation Expectations in Euro area is expected to be 4.00 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
2026-06-26 08:00 AM
ECB Consumer Inflation Expectations
May 3.5% 4% 3.9%
2026-07-24 08:00 AM
ECB Consumer Inflation Expectations
Jun 3% 3.5% 3.7%
2026-08-28 08:00 AM
ECB Consumer Inflation Expectations
Jul 3% 2.8%


Related Last Previous Unit Reference
Core Inflation Rate YoY 2.40 2.60 percent Jun 2026
Food Inflation 1.20 1.60 percent Jun 2026
Consumer Inflation Expectations 3.00 3.50 percent Jun 2026
Consumer Inflation Expectations 3Y 2.90 2.90 percent May 2026
Consumer Inflation Expectations 5Y 2.40 2.40 percent May 2026
Inflation Rate YoY 2.80 3.20 percent Jun 2026
Inflation Rate MoM -0.10 0.10 percent Jun 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
3.00 3.50 5.80 1.90 2020 - 2026 percent Monthly
NSA

News Stream
Euro Area Consumer Inflation Expectations Fall for 2nd Month
Eurozone median inflation expectations for the next 12 months fell for a second consecutive month to 3% in June 2026, the lowest since February, from 3.5% in May. Consumers expect the price of their home to increase by 3.4% over the next 12 months, compared with 3.6% in May. Expectations for mortgage interest rates went up to 5% from 4.9%. Meanwhile, expectations for inflation three years ahead also declined to 2.8% from 2.9% while expectations for inflation five years ahead remained unchanged at 2.4%. Uncertainty about inflation over the next 12 months decreased for the second consecutive month, but remained higher than the level prevailing before the start of the war in the Middle East. Elsewhere, expected nominal spending growth over the next 12 months decreased to 3.6% from 3.8% in May. Expectations for economic growth over the next 12 months increased to -1.4% from -1.7% and expectations for the unemployment rate 12 months ahead decreased to 11.2% from 11.3% in May.
2026-07-24
Euro Area Consumer Inflation Expectations Ease
Eurozone median inflation expectations for the next 12 months declined to 3.5% in May 2026, the lowest level in three months, down from 4.0% in each of the previous two months, which marked the highest reading since 2023. Consumers also expect house prices to rise by 3.6% over the next year, slightly below 3.7% in April. Expectations for mortgage interest rates were unchanged at 4.9%. Meanwhile, longer-term inflation expectations were steady, at 2.9% for three years ahead and 2.4% for five years ahead. Uncertainty around 12-month inflation expectations eased but remained elevated compared with levels seen before the outbreak of the Middle East conflict. Elsewhere, consumers’ expectations for nominal income growth over the next 12 months rose to 1.0% from 0.8% in April. Economic growth expectations for the year ahead improved to -1.7% from -2.2% and expectations for the unemployment rate 12 months ahead ticked up slightly to 11.3% from 11.2% in April.
2026-06-26
Euro Area Consumer Inflation Expectations Unchanged in April
Eurozone median inflation expectations for the next 12 months were steady at 4% in April 2026, the same as in March and staying at 2023-highs. Consumers expected the price of their home to increase by 3.7% over the next 12 months, which was unchanged from March and expectations for mortgage interest rates also remained unchanged. In addition, expectations for inflation three years ahead decreased to 2.9% from 3% and inflation expectations for five years ahead remained unchanged at 2.4%. Meanwhile, economic growth expectations for the next 12 months became more negative, decreasing to -2.2% from -2.1%. By contrast, expectations for the unemployment rate 12 months ahead decreased to 11.2% from 11.3% in March. In addition, consumers’ nominal income growth expectations over the next 12 months decreased to 0.8% in April from 1.2% in March.
2026-06-01