The Eurozone inflation outlook for 2026 and 2027 is now significantly higher than in the previous survey, according to the European Central Bank's fourth-quarter Survey of Professional Forecasters published on October 30. A return to the ECB's 2% target may be delayed until 2028. The survey, which collected 52 responses between October 2 and 7, projects Harmonized Index of Consumer Prices (HICP) inflation at 3.0% in 2026, 2.6% in 2027 and 2.0% in 2028. Compared with the previous survey, the 2026 forecast was raised by 0.3 percentage points and the 2027 forecast by 0.4 points, while the 2028 projection was left unchanged. Longer-term expectations for 2031 were held at 2.
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