Bank of England releases its latest consumer inflation expectations
- Prior 3.2%
- Inflation two years ahead seen at 2.9% (previously 2.8%)
- Inflation five years ahead seen at 3.4% (previously 3.5%)
- 47% of public expect BOE to raise rates over the next 12 months (previously 53%)
The expectations for a year's time (3.2%) remains the joint-highest since 2013 but this is more of a general indication of consumer behaviour than actual inflationary pressures developing. Whatever the case is, we'll only have more clarity on how the UK economy will progress after the Brexit mess is sorted out.
