Eurozone Consumer Inflation Expectations Edged Higher in September

By Ed Frankl

Inflation expectations among households in the eurozone crept higher in September, after energy prices continued to rise as the war in the Middle East dragged on.

Consumers say they expect prices to rise by 3.1% over the next 12 months, up from 3.0% in August, according to a European Central Bank survey published Friday of around 19,000 adults from 11 eurozone members.

It was the second consecutive monthly rise in year-ahead expectations, after they had fallen back between April and July. Brent crude oil prices climbed to more than $100 a barrel in September.

Inflation expectations had hit 4% in March, shortly after the first airstrikes on Iran.

Eurozone inflation has risen steadily since June, reaching 3.8% in September, well above the ECB's 2% target. The central bank has raised its key interest rate twice this year as the sharp increase in energy prices was seen by policymakers as too significant to ignore. Investors expect the ECB to hold its key rate next week.

Uncertainty about expectations for inflation in the year ahead increased slightly in September, remaining higher than the level prior to the start of the war, the ECB survey said.

However, consumer inflation expectations for three and five years ahead were unchanged, the survey showed.

Write to Ed Frankl at edward.frankl@wsj.com

(END) Dow Jones Newswires

October 23, 2026 04:15 ET (08:15 GMT)