UK public inflation expectations surged in February, BoE survey shows
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People walk past the Bank of England building, in London, Britain, May 8, 2024. REUTERS/Carlos Jasso/File Photo
(Reuters) - The British public's expectations for inflation in the long run rose in February to their highest level in more than five years, according to a Bank of England survey on Friday that is likely to underscore its cautious approach to cutting interest rates.
Expectations for inflation in five years' time or longer rose to 3.6% in February from 3.4% in the previous survey, conducted in November, the BoE said. It marked the highest reading since November 2019.
The BoE reported a jump in year-ahead expectations, to 3.4% from 3.0% - the highest reading since August 2023.
(Reporting by Andy Bruce; editing by David Milliken)
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