Euro area consumers' inflation expectations for the one year ahead and those for the three-year horizon surged in March as crude oil price continue to rise due to the ongoing conflict in the Middle East, results of a monthly survey by the European Central Bank showed on Tuesday.
Median expectations for inflation for the next 12 months and those for the three years ahead climbed to 4.0 percent and 3.0 percent, respectively, from 2.5 percent in February, the ECB Consumer Expectations Survey showed. Medium term price growth expectations are well above the ECB's inflation target of 2.0 percent.
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by Jyotsna V
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