UK public inflation expectations cool: Bank of America survey

LONDON – 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 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.

(Reporting by Andy Bruce; Editing by William Schomberg)