ECB ups inflation outlook and sees higher growth in 2021
Sep 09, 2021
ECB chief Christine Lagarde said that quick growth in consumer prices is expected to be "temporary", and shared forecasts that put inflation below the institution's target of two percent in both 2022 and 2023.
European Central Bank (ECB) President Christine Lagarde. (Photo by Daniel ROLAND / AFP)
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The European Central Bank raised its inflation forecast Thursday and bumped up growth figures for 2021, as widespread vaccination allows more businesses to reopen and consumers to spend.
ECB chief Christine Lagarde said that quick growth in consumer prices is expected to be "temporary", and shared forecasts that put inflation below the institution's target of two percent in both 2022 and 2023.
Exterior view taken on September 9, 2021 shows the European Central Bank (ECB) building in Frankfurt. (Photo by Daniel ROLAND / AFP)
Here is a table with the ECB's major projections. The previous forecasts from June are given in brackets.
The figures are expressed as percentage changes and are all positive unless indicated otherwise.
| 2021 | 2022 | 2023 |
Real GDP growth | 5.0 (4.6) | 4.6 (4.7) | 2.1 (2.1) |
Inflation | 2.2 (1.9) | 1.7 (1.5) | 1.5 (1.4) |
Private consumption | 3.6 (2.9) | 7.0 (7.0) | 2.0 (2.0) |
Government consumption | 3.4 (3.4) | -1.2 (-0.8) | 0.9 (1.0) |
Investment | 7.2 (7.3) | 5.3 (5.5) | 3.0 (2.8) |
Exports | 8.9 (9.0) | 6.7 (6.5) | 4.0 (3.7) |
Imports | 9.0 (8.3) | 7.0 (7.0) | 3.8 (3.6) |
Source:
https://www.ecb.europa.eu/pub/projections/html/index.en.html
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