London, May 1 (BNA): The British public’s expectations for inflation over the next year and five to 10 years eased in April, US bank Citi said on Monday, publishing a monthly survey by market research firm YouGov.
Overall expectations for 12-month inflation eased to 5.2% in April from 5.4% in March and long-term expectations eased to 3.6% from 3.7%, Reuters reported.
“Today’s data reaffirms the upside risks that have haunted UK inflation expectations in recent months – with both the long- and short-term series continuing well above pre-Covid ranges,” the report said. “The data continues to suggest that overall UK inflation expectations remain steady at fixed target levels.”
“With severe shortages and food inflation primarily responsible for the recent fluctuations, we believe the risks surrounding this data are likely to abate in the coming months rather than intensify further.”