MNI: Professional Forecasters Inflation Outlook Higher - ECB

Economists and analysts across the euro area have modestly upped their inflation forecasts for both 2025 and 2026, although the outlook for 2027 and longer-term remain unchanged, the ECB's Survey of Professional Forecasters (SPF) showed on Tuesday.

Core inflation expectations, as measured by the HICP excluding energy and food (HICPX), were revised up slightly for all horizons, the survey, closely watched by the Governing Council, showed. 

Headline inflation was expected to decline from 2.4% in 2024 to 2.2% in 2025 and 2.0% in 2026 and 2027, but these expectations represented a 0.1 percentage point upward revision for 2025 and 2026. Longer-term HICP inflation expectations (for 2029) were unchanged at 2.0%. (See MNI ECB WATCH: ECB Cuts 25BP, As Tariffs Add To Risk )