Euro Area Inflation Expectations

Median inflation expectations in the Eurozone rose in March 2025, with the 12-month outlook increasing by 0.3 percentage points to 2.9%, the highest level since April 2024. Expectations for inflation three years ahead also edged up by 0.1 points to 2.5%, marking the highest reading since March 2024. Meanwhile, five-year expectations, reported for the first time this month, held steady for a fourth consecutive month at 2.1%. The median rate of perceived inflation over the past 12 months was unchanged at 3.1%, its lowest level since September 2021. Inflation uncertainty for the year ahead also remained flat, holding at its lowest point since January 2022. Younger respondents (aged 18–34) continued to report lower inflation perceptions and expectations compared to older age groups (35–54 and 55–70), though the gap narrowed slightly relative to previous years.