Eurozone Consumers Brace for Recession and High Inflation: ECB Survey

Eurozone Consumers Brace for Recession and High Inflation: ECB Survey
People with shopping bags walk near a shopping center, amid the COVID-19 pandemic, in Berlin, on Dec. 21, 2021. Annegret Hilse/Reuters
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FRANKFURT, Germany—Consumers in the eurozone are bracing for the economy to shrink and for high inflation to continue eating into their income in the next year, a European Central Bank survey showed on Thursday.

The Consumer Expectations Survey, used by policymakers for input in their deliberations and published on Thursday for the first time, showed households were beginning to lose faith in the ECB’s ability to bring inflation back down to its 2 percent goal.