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The
Consumer Expectations Survey (CES) is used by policymakers to
gauge whether the steepest streak of interest-rate hikes in the
euro's history has persuaded households that once runaway
inflation will fall back to the ECB's 2% inflation goal.
The latest poll, carried out in December on an expanded panel of
11 countries, showed the median household expected prices to
rise by 3.2% in the following 12 months, down from 3.5% a month
earlier.
On the flipside, expectations for inflation three years ahead
remained slightly above the ECB's goal, even rising slightly to
2.5% from 2.4%.
The result for the previous months were restated to include
responses from Ireland, Greece, Austria, Portugal and Finland,
which are now also part of the survey.
They join Belgium, Germany, Spain, France, Italy and the
Netherlands, raising the poll's coverage to 96% of the euro
area’s GDP and 94% of its population.
The CES is an important input in the ECB's deliberations because
households' inflation expectations can affect wage demands and
attitudes towards saving and spending.
(Reporting By Francesco Canepa; editing by Christina Fincher)
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