ECB Survey: Eurozone HICP seen at 6% in 2022, 2.4% in 2023

According to a recently conducted European Central Bank (ECB) survey, the Harmonised Index of Consumer Prices (HICP) in the eurozone is seen at 6% in 2022 and 2.4% in 2023.

The HICP is expected to decline to 1.9% and average 2.1% in the "longer term."

According to the survey, the Gross Domestic Product in the eurozone is forecast to expand by 2.9% 2.3% and 1.8% in 2022, 2023 and 2024, respectively.

Market reaction

The EUR/USD pair continues to fluctuate in a tight range slightly above 1.0800 in the European session.