Inflation Expectations Among the Public Rise in November, According to BoE Survey

According to a quarterly survey conducted by the Bank of England (BoE), inflation expectations among the British public increased in November. The BoE's statement noted that the median inflation expectations for the next year rose from 2.7% to 3.0% in the latest survey, reaching the highest level since February. Inflation expectations for the next 12 months also climbed from 2.6% to 2.8%. Additionally, the inflation expectation for approximately five years ahead rose from 3.2% to 3.4%, marking the highest level since May 2022.