ECB’s Survey of Professional Forecasters revised up inflation figures

The ECB has published its Survey of Professional Forecasters for Q2 2017. Respondents now see inflation figures tracked by the CPI rising 1.6% in 2017, 1.5% in 2018 and 1.7% in 2019. The CPI is seen higher in this year and the next one, while expectations are unchanged for 2019. The average longer-term inflation expectations stayed anchored at 1.8%.

Regarding GDP, the survey now expects the economy to expand 1.7% this year, 1.6% in 2018 and 1.5% in 2019.