The latest European Central Bank (ECB) staff projections show headline inflation averaging 3.0% in 2026, 2.5% in 2027, and 2.1% in 2028. Compared to June, the 2026 projection is unchanged, but the 2027 and 2028 projections have both been revised upwards. Inflation excluding energy and food is expected to be 2.6% in 2027.