ECB Consumer Expectations Survey Results – April 2025

In April 2025, the ECB Consumer Expectations Survey revealed mixed trends in inflation perceptions and expectations. Median inflation perceptions over the past 12 months remained stable at 3.1%, while expectations for the next 12 months rose to 3.1%. Expectations for inflation three and five years ahead stayed unchanged at 2.5% and 2.1%, respectively. Income growth expectations declined slightly, while spending growth expectations increased. Economic growth expectations turned more negative, and unemployment rate expectations rose marginally. Housing price and mortgage rate expectations also saw an uptick.