According to the European Central Bank's (ECB) consumer survey for April, inflation expectations for the next year remain stable at 4.0%, consistent with prior assessments. However, perceptions of inflation over the past 12 months increased to 4.0%, up from 3.5% in March. Longer-term expectations show a slight decline, with three-year expectations at 2.9% and five-year expectations steady at 2.4%. Consumers are becoming less optimistic about income growth, with expected nominal growth falling to 0.8% from 1.2%. Despite this, reported spending growth increased to 5.3%, and expected spending growth for the coming year rose to 4.3%. Economic growth expectations turned slightly negative, with households anticipating a contraction of -2.2%. Labour market expectations showed mixed signals; while the expected unemployment rate is projected to decline to 11.2%, concerns about job security among employed respondents increased. The survey highlights ongoing disparities, with lower-income households reporting higher inflation perceptions and expectations than wealthier ones.