www.ecb.europa.eu
1 July 2025
- median consumer perceptions of inflation over the previous 12 months remained unchanged, while median expectations for inflation one and three years ahead decreased, and median inflation expectations for five years ahead remained unchanged;
- expectations for nominal income growth over the next 12 months increased, while expectations for spending growth over the next 12 months decreased;
- expectations for economic growth over the next 12 months became less negative, while the expected unemployment rate in 12 months’ time decreased;
- expectations for growth in the price of homes over the next 12 months remained unchanged, while expectations for mortgage interest rates 12 months ahead declined.
Inflation
In May, the median rate of perceived inflation over the previous 12 months remained unchanged at 3.1% for the fourth consecutive month. This was its lowest level since September 2021. Median expectations for inflation over the next 12 months decreased by 0.3…