Britons’ inflation expectations for the coming year remained unchanged, the quarterly Bank of England/Kantar Inflation Attitudes Survey showed on Friday.
Inflation for the coming year was seen at 2.7 percent, unchanged from the November survey. At the same time, inflation expectations for the twelve months after that rose marginally to 2.2 percent from 2.1 percent.
The 5-year ahead inflation expectation was unchanged at 2.9 percent.
The survey showed that respondents assessing the current inflation target as ‘about right’ rose to 44 percent from 40 percent in November 2020. The proportions saying the target was ‘too high’ or ‘too low’ were 29 percent and 11 percent, respectively.
When asked about the future path of interest rates, 35 percent said they expected rates to stay about the same over the next twelve months, compared with 34 percent in November. About 35 percent of respondents expected rates to rise over the next 12 months.
The quarterly survey was conducted between February 9 and 22 by Kantar, on behalf of BoE.
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