Bank of England survey sees expectations of inflation rise

Respondents to the Bank of England's GfK NOP Inflation Attitudes Survey saw inflation expectations rise from the last survey in November.

  • Median expectations of the rate of inflation over the coming year were 3.6%, compared with 3.5% in November
  • Asked about expected inflation in the twelve months after that, respondents gave a median answer of 3.4%, compared with 3.2% in November
  • By a margin of 71% to 5%, survey respondents believed that the economy would end up weaker rather than stronger if prices started to rise faster, compared with 64% to 6% in November.
  • 43% of respondents thought the inflation target was ‘about right’, compared with 47% in November, while the proportions saying the target was ‘too high’ or ‘too low’ were 26% and 17% respectively.

(Bank of England)