Recovery increasingly resilient; inflation predictions down – ECB
GDP forecasts revised upwards, and ECB says recovery is “broadening”, but inflation projections revised down
The eurozone’s economic recovery is “increasingly resilient”, the European Central Bank (ECB) says in its latest economic review, but it nonetheless downgrades its inflation predictions.
The ECB staff’s June 2017 prediction for Harmonised Index of Consumer Prices (HICP) inflation is now 1.5% for 2017, 1.3% in 2018 and 1.6% in 2019. In March 2017, the ECB staff macroeconomic projections were 1.7% in 2017, 1.6% in 2018 and 1.7% in 2019. The downward revision was “mainly reflecting lower oil
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