ECB Consumer Expectations Survey (Jan):

• 1-year inflation expectation 2.6% (prev. 2.8%).
• 3-year inflation expectation 2.6% (prev. 2.6%).
• 5-year inflation expectation 2.3% (prev. 2.4%).

The ECB Consumer Expectations Survey indicates a slight decline in 1-year inflation expectations, dropping to 2.6% from 2.8%, while 3-year expectations remain stable. This modest easing in short-term inflation outlook may signal a cooling in consumer price pressure, which could inform future ECB policy discussions, particularly regarding interest rates and inflation targets.