UK public’s inflation outlook holds at 4-year low – BoE

LONDON, March 12 (Reuters) – The British public’s expectations for inflation over the next 12 months held at its lowest level in more than four years, in sharp contrast to a recent rise in market expectations, Bank of England data showed on Friday.

Average expectations for inflation over the next 12 months remained at 2.7% – its lowest reading since August 2016 alongside November’s figure.

Asked about inflation for the following year, the public saw it at 2.2%, compared with 2.1% in November, while longer-term inflation was expected to hold steady at 2.9%, just above a five-year low recorded in August 2020. (Reporting by David Milliken, editing by Andy Bruce)