Inflation expectations soar

The British public’s expectations for future inflation have surged to their highest level in two years, a survey by YouGov revealed yesterday. Inflation expectations for the year ahead jumped to 3.2 per cent in October from 2.5 per cent in September, the biggest increase on record for the poll commissioned by Citi. Over the next five to 10 years Britons expect annual inflation of 3.9 per cent, up from expectations of 3.3 per cent in September.