Title: UK public inflation expectations cool: Bank of America survey
Jul 12, 2022 05:30AM ET
A survey showed that the British public's expectations for inflation in the coming years have fallen in recent weeks to their lowest level in almost a year, which is good news for Bank of England officials who fear that price pressures may be gaining ground.
"Consumer inflation expectations continue to fall according to our survey, with 5-year expectations briefly touching the lowest level since August last year," said Robert Wood, an economist at Bank of America Global Research, referring to the bank's own survey of consumers.
Last month, the closely watched Citi/YouGov survey also showed a decline in the population's long-term inflation expectations.