BRUSSELS (dpa-AFX) - Eurozone near-term inflation was forecast to be higher than previous projection on higher oil prices, while longer-term inflation expectations remain unchanged, according to the Survey of Professional Forecasters published by European Central Bank.
Inflation was forecast to be 1.4 percent this year, 1.5 percent in 2018 and 1.6 percent in 2019. That represents an upward revision of 0.2 and 0.1 percentage point to expectations for 2017 and 2018, respectively.
Average longer-term inflation expectations for 2021 remain unchanged at 1.8 percent, the survey showed.
Growth expectations was revised up by 0.1 percentage point to 1.5 percent for 2017. There were no alterations to expectations for 2018. Real growth was expected to remain at 1.5 percent next year and 2019.
Unemployment rate expectations continue to imply a declining trajectory, the bank said. The jobless rate was expected to fall to 9.2 percent next year from 9.5 percent in 2017. This represented downward revisions of 0.2 percentage point for 2017 and 0.1 percentage point for 2018. For 2019, the rate was seen at 8.9 percent.
The average point forecast for the longer-term unemployment rate was revised downwards by 0.2 percentage point to 8.5 percent. The survey was conducted between January 4 and 11.
Copyright RTT News/dpa-AFX