The European Central Bank's (ECB) Consumer Expectations Survey for July 2026 revealed that median expectations for inflation over the next 12 months decreased to 2.9% from 3.0% in June. Similarly, inflation expectations for three years ahead also fell to 2.7% from 2.8%, while five-year expectations remained unchanged at 2.4%. Perceived inflation over the previous 12 months also declined to 3.5% from 3.6%. Consumers' expectations for economic growth over the next 12 months rose to -1.2% from -1.4% in June, indicating a slight improvement in sentiment. Additionally, expectations for nominal income growth over the next 12 months decreased to 1.0% from 1.1%, and expectations for mortgage interest rates in 12 months' time declined to 4.9% from 5.0%.