The European Central Bank said that consumer inflation expectations have risen for the second consecutive month.

The European Central Bank said that consumer inflation expectations in the Eurozone rose for the second consecutive month in April. The monthly survey released on Wednesday showed that inflation expectations for the next 12 months are at 3.1%, up from 2.9% in March. This is also the highest level since February 2024. Inflation expectations for the next three years and five years remain unchanged at 2.5% and 2.1% respectively. ECB officials are confident that inflation will return to 2% in the coming months. Early consumer price data for May showed that inflation in France was 0.6%, and analysts expect other major economies in the region to report inflation data below target. These data will be released later this week, and the overall inflation rate for the Eurozone will be announced on June 3.