Greeks Most Pessimistic in Eurozone on Inflation, Growth, ECB Says

Eurozone consumers grew slightly less pessimistic in June compared with May, but remain cautious about spending and concerned about the economic outlook, according to the European Central Bank‘s monthly consumer expectations survey published July 24.

Inflation expectations for the next 12 months fell to 3.0 percent from 3.5 percent, while three-year expectations edged down to 2.8 percent from 2.9 percent. Five-year expectations held steady at 2.4 percent. The findings align with Eurostat’s harmonized consumer price index for June, which showed eurozone inflation easing to 2.8 percent from 3.2 percent in May.

Greeks Far Gloomier Than European Peers

Greek consumers stand out as the most pessimistic in both the EU and the eurozone by a significant margin. Perceived inflation over the past 12 months reached 10.1 percent in Greece — more than double the eurozone average and more than twice the country’s own harmonized June CPI reading of 3.9 percent.