Macroeconomy

ECB's Inflation and Growth Expectations: Eurozone's Economic Outlook

724FinanceBurak Güven
ECB's Inflation and Growth Expectations: Eurozone's Economic Outlook

The ECB's Survey of Professional Forecasters provides critical insights into the Eurozone's economic outlook.

Inflation Expectations: HICP and HICPX Projections

  • HICP inflation expectations stand at 2.7% for 2026, 2.2% for 2027, and 2.0% for 2028.
  • HICPX inflation (excluding energy, food, alcohol, and tobacco) is projected at 2.4% for 2026, 2.2% for 2027, and 2.1% for 2028.
  • Economic Growth and Unemployment

  • Real GDP growth is expected to be 0.6% in 2026, 1.2% in 2027, and 1.3% in 2028.
  • Unemployment rate projections are 6.3% for 2026 and 2027, declining to 6.2% in 2028, and 6.1% in the long term.
  • Burak Güven: The ECB survey indicates progress in inflation control, but downward revisions in growth forecasts heighten stagflation risks. This demands a delicate balance from policymakers. While medium-term inflation expectations remain anchored, geopolitical tensions and energy price volatility could disrupt projections.
    Burak Güven

    Financial Analyst: Burak Güven

    Küresel Kriz ve Resesyon Senaryoları Baş Araştırmacısı. Stagflasyon risklerini, CDS (Kredi Temerrüt Takası) primlerindeki patlamaları ve makro dengesizlikleri önceden sezen karamsar piyasa kurdu.

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