According to the November 2024 Bank of England/Ipsos Inflation Attitudes survey, the median expectation for the rate of inflation over the coming year among respondents was 3%, up from 2.7% in August 2024.
Similarly, when asked about expected inflation in the 12 months after that, respondents gave a median answer of 2.8%, up 0.2 percentage points from August’s figure of 2.6%.
UK economy unexpectedly shrinks by 0.1% in October sparking ’cause for concern’
Looking more long term, those who took part in the survey were sceptical of the Bank of England achieving its inflation target …
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