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Financial News: Britons' Inflation Expectations Rise Further: BoE/ Ipsos S

Britons' Inflation Expectations Rise Further: BoE/ Ipsos Survey

06/10/2022 - 10:50:00 (RTTNews)

(RTTNews) - UK consumers' inflation expectations for the coming year rose again, according to the survey conducted by the market research firm Ipsos on behalf of the Bank of England showed Friday.

The inflation rate for the coming year is seen at 4.6 percent, up from 4.3 percent in February.

The five-year ahead inflation expectations rose to 3.5 percent from 3.3 percent in the previous survey period.

When asked about the future path of interest rates, 70 percent of respondents expected rates to rise over the next 12 months, up from 65 percent in February.

By a margin of 66 percent to 9 percent, respondents believed that the economy would end up weaker rather than stronger if prices started to rise faster, compared with 59 percent to 7 percent in February.

According to the survey, 66 percent of respondents said that interest rates on mortgages, bank loans and savings had risen over the past 12 months, compared with 54 percent in February. The survey was conducted between May 6 and 10.

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