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Eurozone inflation expectations drop to record low

UNITED STATES (OBSERVATORY NEWS) — The key market indicator of long-term inflation expectations in the eurozone on Friday fell to a record low, as concerns about the spread of coronavirus intensified, reports Reuters.

The five-year indicator of inflation expectations fell to 1.1182%, the lowest level in history. The indicator indicates the level of expected inflation in the eurozone over a five-year period.

Countries on three continents previously reported the first cases of coronavirus in the context of preparations for a global pandemic, which caused concern over the weak outlook for global growth.

Inflation expectations beat the previous record low in October 2019, dropping to 1.12%, according to Refinitiv.

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