The European Central Bank said Thursday it expected inflation in the eurozone to be higher in 2024 and 2025 than previously estimated.

Inflation is projected to reach 2.5 percent in 2024 rather than the previously predicted 2.3 percent. In 2025 it will fall to 2.2 percent, above the previous estimate of two percent. The forecast for 1.9-percent inflation in 2026 remained unchanged.