UK Households Fear Inflation Surge

UK household inflation concerns are escalating once again as consumer expectations for price increases over the next year have reached their highest level since May. According to data released by Citi and YouGov on Tuesday, UK households expect prices to rise 3.9% in the coming 12 months, up from 3.4% in July.

This uptick in inflation worries will likely be a concern for Bank of England officials, who are already grappling with the impact of the US-Iran conflict on the global economy.

The long-run gauge tracking expectations for inflation also climbed to 4.1%, up from 3.7% in July.