Eurozone inflation still seen above ECB’s 2.0% target into 2025 – Bloomberg survey

According to economists polled by Bloomberg, Euroa area inflation is still likely to loom above the European Central Bank (ECB) target of 2.0% heading further out in 2025.

Key takeaways

“The headline and underlying measures are both predicted to average 2.1% that year.”

“Core inflation, which excludes volatile items like energy and is currently of particular concern for the ECB, will peak at its current level of 5.2% in the first quarter before easing to 3.6% in the final three months of this year.”

“Respondents see a 0.2% contraction in gross domestic product in the first quarter, followed a rebound. GDP will grow 0.4% in 2023 and 1.2% in 2024.”