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Omiros Kouvavas

@omiroskouvavas.bsky.social

Senior Economist at the ECB and PhD in Economics, University of Warwick. All opinions are my own and do not necessarily reflect the positions of the ECB.

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Reposted by Omiros Kouvavas

European Central Bank

@ecb.europa.eu

Although standard inequality indicators stayed stable during the 2021-23 inflation surge, lower-income households faced a higher inflation burden. They were also more vulnerable to interest rate hikes through greater reliance on adjustable-rate mortgages link.europa.eu/tYp8h9

November 12, 2025 at 9:01 AM

Reposted by Omiros Kouvavas

VoxEU @ CEPR

@voxeu.org

Faced with US #tariffs, European consumers are very willing to switch away from US products, and the more they earn, the more likely they are to switch.
A Baumann, L Caprari, M Dossche, G Kocharkov @bundesbank.de, O Kouvavas @ecb.europa.eu
cepr.org/voxeu/column...
#EconSky

Charts showing the substitution willingness and substitution motive of European consumers facing US tariffs. The higher the tariff, the higher the substitution percentage. The motive for substitution for 43.7% of respondents is preference, 38.1% say price.

Faced with the prospect of the US government imposing higher trade tariffs, European consumers are rethinking what they buy. This column explores how European consumers are reacting to the 2025 US tariff hikes and the reasons behind their responses. European consumers are very willing to switch away from US products, and the more they earn, the more likely they are to switch. Higher-income households appear to be motivated more by preference than by price. Geopolitics and trade wars may induce long-term structural change in consumer preferences.

July 16, 2025 at 7:59 AM

Omiros Kouvavas

@omiroskouvavas.bsky.social

How likely are Europeans to substitute away from US good? During March we asked respondents of the consumer expectation survey of the ECB! As previous anecdotal evidence suggests the incidence of US tariffs has created a preference swift away from US products and brands which increases by income. 👇

European Central Bank @ecb.europa.eu · Apr 30

How might European consumers react to US trade tariffs? The #TheECBBlog uses Consumer Expectations Survey data to investigate. It finds that many consumers are very willing to switch away from US products – and are not just motivated by price concerns, but shifting preferences europa.eu/!mK8vDw

April 30, 2025 at 11:53 AM

Omiros Kouvavas

@omiroskouvavas.bsky.social

A new harmonised indicator on euro area rents and rent growth using the survey data from the CES. New rents drive the cycle but slowly the rest of the market adjusts. Focusing only on within contract increases might under state the actual adjustment of rents. 👇

European Central Bank @ecb.europa.eu · Mar 17

ECB Consumer Expectations Survey data have been used to create a rent growth indicator, which shows that euro area rent growth peaked in the third quarter of 2023 and remains elevated, driven disproportionately by new rental contracts www.ecb.europa.eu/press/econom...

#EconomicBulletin

March 17, 2025 at 2:43 PM

Reposted by Omiros Kouvavas

European Central Bank

@ecb.europa.eu

What do consumers in the euro area expect will happen to inflation, their incomes, their spending and the value of their homes 12 months from now?

We’ve published the latest results of our Consumer Expectations Survey: www.ecb.europa.eu/press/pr/dat...