Eurozone consumers' inflation expectations for the coming year declined significantly in June. At the time of the investigation, the Middle East conflict had yet to escalate again and trigger a sharp rise in oil prices. Consumer prices are expected to rise 3%, down from 3.5% in May, according to the ECB's monthly survey released on Friday. The three-year inflation forecast, which is more important for monetary policy formulation, fell from 2.9% to 2.8%. The investigation was conducted from June 4 to 29. At the time, the US and Iran signed a memorandum of understanding after reaching a cease-fire. However, the cease-fire did not last, and clashes broke out again between the two sides this month. The day before this set of survey data was released, the ECB decided to keep interest rates unchanged. ECB President Christine Lagarde paved the way for a possible rate hike in September in this policy decision.

Eurozone consumers' inflation expectations for the coming year declined significantly in June. At the time of the investigation, the Middle East conflict had yet to escalate again and trigger a sharp rise in oil prices. Consumer prices are expected to rise 3%, down from 3.5% in May, according to the ECB's monthly survey released on Friday. The three-year inflation forecast, which is more important for monetary policy formulation, fell from 2.9% to 2.8%. The investigation was conducted from June 4 to 29. At the time, the US and Iran signed a memorandum of understanding after reaching a cease-fire. However, the cease-fire did not last, and clashes broke out again between the two sides this month. The day before this set of survey data was released, the ECB decided to keep interest rates unchanged. ECB President Christine Lagarde paved the way for a possible rate hike in September in this policy decision.