Eurozone consumer inflation expectations fell to 3% in June, declining for the second consecutive month

(1) The median inflation expectations of Eurozone consumers for the next 12 months declined for the second consecutive month, dropping to 3% in June, the lowest since February and below May's 3.5%. Consumers expect housing prices to rise by 3.4% over the next 12 months, down from 3.6% in May; mortgage rate expectations increased from 4.9% to 5%. (2) Three-year inflation expectations fell from 2.9% to 2.8%, while five-year inflation expectations remained unchanged at 2.4%. Inflation uncertainty over the next 12 months declined for the second consecutive month, but remains above pre-Middle East conflict levels. Nominal spending growth expectations dropped from 3.8% to 3.6%, economic growth expectations improved from -1.7% to -1.4%, and unemployment rate expectations decreased from 11.3% to 11.2%.