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Inflation has fallen quickly over the past year and the ECB is
planning to cut interest rates in June but the outlook further
out remains clouded by rising energy costs, stubbornly high
services inflation and continued geopolitical tensions that
threaten to disrupt trade.
Euro zone consumers saw inflation in the next 12 months at 3.0%,
a tad below the 3.1% expected a month earlier, the ECB said. It
was survey's lowest reading since December 2021.
Meanwhile, inflation expectations for three years ahead held
steady for a fourth consecutive month at 2.5%, the ECB said in
its monthly survey of around 19,000 consumers.
Expectations for income and spending growth both declined
moderately, even as unemployment was seen lower than a month
earlier.
Still, consumers continued to expect negative economic growth
for the next year with GDP seen contracting by 1.1%.
(Reporting by Balazs Koranyi; editing by Christina Fincher)
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