ECB survey expects moderate inflation over next 12-month

ISTANBUL

The European Central Bank (ECB) eased inflation forecast for the next 12 months.

According to the bank's survey results on Tuesday, the 12-month rolling median inflation rate at 9.5% as of January, was expected to ease to 4.9% in the next 12 months.

On Tuesday, the expectation for the next 12 months dropped from 5%.

"Median expectations for inflation three years ahead declined significantly to 2.5%, from 3.0% in the previous month," it added.

The survey also showed that consumers forecast that their nominal income will grow by 1.3% over the next 12-month period.