Euro area: in March 2021 the ECB expected inflation of 1.2% for 2022; the outcome was 8.4%
Forecasts of 83 releases (2004–2024) for the next year: the outcome above the forecast 43 times, below 40; typical error +0.10 percentage points. The largest under-forecast in March 2021: 1.2% expected for 2022, the outcome was 8.4%. The largest over-forecast in September 2008: 2.6% expected for 2009, the outcome was 0.3%.
Source: Central banks: published forecasts; actual: official statisticsOpen on the chart →