UK public inflation expectations cool: Bank of America survey

The British public’s expectations for inflation in future years receded in recent weeks to the lowest level in almost a year, a survey showed on Tuesday in welcome news for Bank of England officials who fear price pressures might become embedded.

“Consumer inflation expectations continue to fall according to our survey, with 5-year expectations briefly touching the lowest since August last year,” said Robert Wood, an economist with Bank of America (NYSE:BAC) Global Research, citing the bank’s own survey of consumers.

Last month, the closely watched Citi/YouGov survey also showed a decline in long-term public inflation expectations.