Eurozone consumers brace for recession and high inflation

Median consumer prices are expected to grow by 5% over the next year and inflation is expected to be at 2.8% in 2025, according to a poll carried out by the ECB

The Consumer Expectations Survey showed that households are beginning to lose faith in the ECB's ability to bring inflation back down to its 2% goal.

Consumers in the eurozone are bracing for the economy to shrink and for high inflation to continue eating into their income in the next year, a European Central Bank survey has shown.

The Consumer Expectations Survey, used by policymakers for input in their deliberations and published today for the first time, showed households were beginning to lose faith in the ECB's ability to bring inflation back down to its 2% goal.