The quarterly survey by the European Central Bank shows that the market experts expect the euro-area inflation to exceed the expectations in the next two years.
Specifically, they believe that consumer prices in 19 countries in the euro-area (HICP index) will add some 1.5% against the previously anticipated 1.4% in 2018 and 1.7% (1.6%) in 2019. Moreover, the outlook for 2020 suggests the rise at 1.8%, as ECB report reads.
Besides, it is also expected that the euro-area economy will grow 2.3% (1.9%) in 2018, 1.9% (1,7%) in 2019 and 1.7% in 2020.
At the same time, analysts have left unchanged a mid-term outlook till 2022 for both indicators. As a result, HICP index is likely to increase by 1.9%, while GDP may add 1.6% respectively, as the survey shows.
The unemployment rate in the region is reportedly estimated at 8.4% in 2018 (8.6% earlier), 7.9% in 2019 (8.2%) and 7.6% in 2020. In the long-run, the figures are expected to add 7.5%