Consumer inflation expectations across the eurozone cooled markedly in November, with the outlook for 12 months ahead dropping to 3.2% from 4.0% in October, the latest European Central Bank survey showed on Tuesday.

Expectations three years ahead slowed to 2.2% from 2.5%. The published inflation rate at the time of the survey was 2.9%, before dipping to 2.4% in the November print.

The readings at the one-year and three-year horizons declined to their lowest levels since February 2022, well below the perceived past inflation rate. Uncertainty about inflation expectations over the next 12 months declined slightly. (MNI SOURCES: ECB Needs Sub-3% Core Inflation To Consider Cuts)