FRANKFURT, Sept 18 (Reuters) – Euro zone consumers nudged up their inflation expectations last month, a European Central Bank survey showed on Friday, likely reflecting a new spike in fuel prices caused by a deepening Iran conflict.
The median respondent in the ECB’s Consumer Expectations Survey saw prices growing by 3.0% over the following 12 months, up from 2.9% in July.
The expectation for inflation three years ahead increased to 2.9% from 2.7% and the five-years-ahead forecast rose to 2.5% from 2.4%.
The ECB raised borrowing costs last week for the second time this year and sources told Reuters policymakers expect further policy tightening in the months ahead.
(Reporting by Francesco Canepa; Editing by Toby Chopra)
Comments