EU flags flutter in front of European Central Bank (ECB) headquarters in Frankfurt, Germany, July 18, 2024. [Photo/Agencies]
FRANKFURT- Eurozone consumers expect inflation to remain elevated after the Iran conflict triggered a sharp rise in oil and energy prices, said a survey from the European Central Bank (ECB) released on Monday.
According to the ECB's latest consumer expectations survey, the median perceived inflation rate over the previous 12 months rose to 4.0 percent in April, up from 3.5 percent in March.
Consumers' expectations for inflation over the next 12 months remained unchanged at 4.0 percent, indicating that households still see price pressures as persistent.
The survey showed that uncertainty over inflation expectations for the coming year remained at a high level. Energy prices have risen sharply since the Iran conflict began in late February, with consumers feeling the impact most directly through higher fuel prices at petrol stations.
