Euro zone consumers kept inflation expectations steady or lowered them in April, according to an ECB survey. This suggests medium-term price bets are not overshooting the target.
Inflation rose to 3% in April due to higher oil prices, above the ECB's 2% target. Some policymakers feared household views were drifting too far from target.
The ECB's monthly consumer survey showed one-year expectations steady at 4.0%, while three-year expectations eased to 2.9% from 3.0%.
Five-year expectations remained unchanged at 2.4%. Lower-income households reported slightly higher inflation perceptions.
