According to the May 2025 Bank of England/Ipsos Inflation Attitudes survey, UK respondents estimated the average rate of inflation to currently stand at 4.7% or 0.2 percentage points lower than in February.
UK economic optimism partially recovers after worst levels since Thatcher and 2008 crisis
However, people in the survey argued that the rate is expected to fall to an average of 3.2% in the twelve months after that, marking no change in the same period.
A similar lack of change was observed when examining five-year expectations, with respondents predicting that the medium r…
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