UK public inflation expectations rise unexpectedly -Citi/YouGov

The British public's expectations for inflation over the coming year and five to 10 years ahead rose unexpectedly in February, U.S. bank Citi said after publishing a monthly survey conducted by market research company YouGov.

by | 5 Mar, 2023

The Bank of England closely watches surveys of inflation expectations as it believes they influence businesses’ pricing decisions and the extent to which workers push for higher pay.

British consumer price inflation hit a 41-year high of 11.1% in October and is still in double digits, but last month the BoE forecast it would drop below 4% by the end of this year.

However, Citi said public expectations for inflation in 12 months time rose to 5.6% in February from 5.4% in January, while expectations for the long term rose to 3.8% from 3.5%.

Long term expectations had fallen during the previous five months.

Read more at Reuters

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