Professional analysts of the European Central / ECB / Bank significantly increased its forecasts for inflation in the euro zone this year. In their assessment, consumer price inflation will be markedly higher than the ECB target rate of 2%. Reported in the ECB's monthly bulletin for May, published on Thursday.According to the ECB, professional analysts predict that the harmonized index of consumer prices will rise by 2.5% this year and 1,9% in 2012, up from earlier forecasts made by 1,9% and 1,8% respectively.
It is believed that the opinions of professional analysts has a significant influence on the central bank monetary policy. The Bank seeks to keep inflation slightly below 2% in the medium term.
Respondents felt that a significant upward revision to forecast inflation in 2011 almost entirely due to the sharp increase in commodity prices, especially for energy."
Increasing price pressures should weaken in the second half of this year, and "particularly " in the next year, analysts say.
