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In October, perceived inflation in the previous 12 months rose to 9.9%. This is what emerges from the survey of consumers in the eurozone published today by the ECB according to which inflation expectations have remained well below the inflation rate perceived in the past.
Notably, median expectations for inflation over the next 12 months increased from 5.1% to 5.4%, while expectations for inflation over the next three years remained unchanged at 3%. Uncertainty about inflation over the next 12 months has risen, remaining well above the level that prevailed before the start of the war in Ukraine.