ECB seen lagging inflation target through 2022
The ECB’s regular Survey of Professional Forecasters put euro zone price growth at 1.2% this year, 1.4% next and 1.5% in 2022. This was in line with the previous edition of the poll, which was published in October but did not include 2022 figures.
The ECB has been taking increasingly aggressive measures to stimulate inflation over the last few years but economists still did not believe this would be enough to push price growth to the ECB’s target any time soon.
The survey’s “longer-term” inflation expectation, a rolling estimate that now refers to 2024, was stable at 1.7%.