In the ECB Survey of Professional Forecasters (SPF) for the third quarter of 2021, HICP inflation expectations were revised up, standing at 1.9%, 1.5% and 1.5% for 2021, 2022 and 2023 respectively.[ 1 ] Compared with the previous round (second quarter of 2021), these were 0.3 and 0.2 percentage points higher for 2021 and 2022 respectively. Longer-term inflation expectations were revised upward to 1.8% for 2026 from 1.7% for 2025 in the previous round. Regarding GDP growth, SPF respondents revised up their expectations for 2021-23. Unemployment expectations have been revised down for all horizons. Indicators of the ... (full story)