UK Media, Times (gated) reports on the most recent survey of inflation expectations conducted by the Bank of England.
- People’s expectations for inflation over the coming year rose to a record high last month
- public satisfaction with the central bank’s handling of rising prices sank to a new low
- The public think inflation in the year ahead will be at 4.9 per cent, up from 4.6 per cent in May, the highest level in the history of the survey, which has been running for more than two decades.
- Expectations for the year after that dropped to 3.2 per cent, from 3.4 per cent in May, which had been the highest figure recorded since 2013.
- Expectations for inflation in five years’ time fell to 3.1 per cent, from 3.5 per cent.
ICYMI, the Bank of England meeting this week has been postponed to next week:
Cable trading lower in early Asia here: