ECB September 2026 Consumer Expectations Survey shows rising inflation outlook amid slowing growth

The ECB's September 2026 Consumer Expectations Survey indicated that the median perceived inflation over the past 12 months rose to 3.6% from 3.5% in August, and median expectations for the next 12 months increased to 3.1% from 3.0%. Expectations for nominal income growth rose to 1.1%, and home price growth over the next 12 months increased to 3.5%, while expectations for economic growth fell to -1.5% and the unemployment rate in 12 months increased to 11.3%. Expectations for inflation three and five years ahead remained unchanged at 2.9% and 2.5% respectively, and expectations for mortgage interest rates remained unchanged.