Carried out across people aged 16-75 across the United Kingdom on various days throughout February, the participants expect the average inflation rate for the next year to stand at 3.4%, marking an increase from their previous forecast of 3% in November’s survey.
Indeed all the respondents findings recorded an increase in inflation expectations over all questioned timeframes.
Bank of England holds interest rates steady at 4.75% amid heightened inflation
They forecast it would move to 3.2% in the 12 months following, up from November’s 2.8% expectations, while in five years’ time th…
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