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Britons' inflation expectations for the year
ahead stayed at 3.6 percent in May, unchanged from February,
results of a quarterly survey by the Bank of England and GfK NOP
According to the Inflation Attitudes Survey, inflation will then fall to 3.3 percent in the 12 months after that. Inflation expectations for a longer-term, say in five years time, came in at 3.6 percent, the same rate as seen in the previous survey period.
When asked about the future path of interest rates, 34 percent of respondents said they expect rates to rise over the next 12 months, compared with 36 percent in February. Only 5 percent forecasts rates to fall.
By a margin of 68 percent to 6 percent, survey respondents believed that the economy would end up weaker rather than stronger if prices started to rise faster, compared with 71 percent to 5 percent in February.
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