www.ecb.europa.eu
8 January 2026
- median consumer perceptions of inflation over the previous 12 months remained unchanged, as did median inflation expectations for the next 12 months, for three years ahead and for five years ahead;
- expectations for nominal income growth over the next 12 months were unchanged, while expectations for spending growth over the next 12 months decreased;
- expectations for economic growth over the next 12 months became more negative, while the expected unemployment rate in 12 months’ time decreased;
- expectations for growth in the price of homes over the next 12 months declined, as did expectations for mortgage interest rates in 12 months’ time.
Inflation
In November, the median rate of perceived inflation over the previous 12 months remained unchanged at 3.1% for the tenth consecutive month. Median expectations for inflation over the next 12 months also remained unchanged from October, at 2.8%. Expectations for inflation three years ahead were also…