ECB September forecasts see higher inflation in 2021

Eurosystem staff macroeconomic forecasts

• 2020 HICP +0.3% vs +0.3% in June
• 2021 HICP +1.0% vs +0.8% in June
• 2022 HICP +1.3% vs +1.3% in June

Headline inflation is likely to remain negative in the coming months and to turn positive in early 2021, Lagarde said. She noted that the euro will put downward pressure on inflation.