Eurozone Consumers Expect Inflation to Ease but Financial Security Remains Elusive
Eurozone consumers anticipate a gradual easing of inflation and slight improvements in economic conditions, according to the European Central Bank’s July 2026 Consumer Expectations Survey. Inflation expectations for the next 12 months have decreased to 2.9%, while long-term expectations remain stable around 2.4%. However, consumers’ nominal income growth is projected to be modest at 1.0%, lagging behind expected spending increases of 3.6%, highlighting ongoing concerns about the cost of living outpacing earnings.
In Cyprus, inflation remains a tangible concern, with harmonised inflation holding at 4% in July. Cypriot households continue to feel price pressures most acutely in groceries, housing, energy, and transport. While pessimism about the eurozone economy is easing, economic growth expectations remain slightly negative, and unemployment worries persist, with a projected 11.2% unemployment rate in the next year.
Housing market expectations are stable, with anticipated house price increases of 3.4% and slightly lower mortgage rate expectations. Credit conditions show mixed trends, with more households reporting tighter access recently, though fewer foresee future tightening. The survey gathered responses from approximately 19,000 adults across 11 eurozone countries from 2 to 27 July 2026.
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