Inflation in the Eurozone is strengthening, according to citizens’ estimates in a survey by the European Central Bank (ECB), while wages continue to grow significantly slower than prices.

Prices in the Eurozone rose by 3.1 percent in March compared to the same period last year, according to the median of citizens' estimates.

However, calculations by the European statistical office showed that inflation measured by the Harmonised Index of Consumer Prices (HICP) in March stood at 2.2 percent.

In the next 12 months, prices are expected to rise by 2.9 percent according to the median of citizens’ estimates. This means that inflation, from their perspective, is strengthening, as just a month ago they expected a price increase of 2.6 percent.