UK DATA: Year-Ahead Inflation Expectations Rise To 4.0% – BOE
–BOE: Feb Median Year Ahead Inflation Expectations 4.0% Vs 3.9% Nov
–BOE/GFK: Public See Current Inflation at 4.4% Vs 3.9% in Nov
–BOE/GFK: Feb Longer Term Inflation Expectations 3.5% vs 3.3% in Nov
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The public’s inflation expectations have moved up in line with the
rise in headline inflation, the latest Bank of England/GfK NOP survey
found. The Feb survey found year ahead inflation expectations rose to
4.0% from 3.9% in the November survey. The survey was conducted between
Feb 10 and 22 this year, with this period covering the Feb 15 release of
Jan’s CPI data, which showed headline inflation at 4.0%. With longer
term inflation expectations hit a series’ high, although that series
only goes back to Feb 2009. Nevertheless, the data will fuel concerns on
the MPC and add to expectations of a near term rise in Bank Rate.
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