ECB Says Consumer Inflation Expectations Jumped in March

Inflation expectations among euro-area consumers jumped across the board in March, a worrying sign for European Central Bank as it assesses the knock-on effects of the Iran war.

Prices were seen soaring 4% over the next 12 months — up from 2.5% in February, according to the ECB’s monthly survey of consumers, released Tuesday. Expectations for three years ahead increased to 3.0% from 2.5% — just below the 3.1% peak reached at the height of the last price spike in October 2022.