UK Inflation Expectations Soar to Highest Level Since April

Public inflation expectations in Britain have risen to their highest level since April after falling in recent months, according to a survey from U.S. bank Citi and pollsters YouGov.

The survey found that expectations for inflation over the next 12 months jumped to 3.9% from 3.4% in July, while longer-term price growth expectations increased to 4.1%, also their highest level since April.

Citi has warned against over-interpreting these figures, suggesting that 'next month's release should give a better steer on how to interpret this jump.'

The Bank of England is keeping a close eye on the situation, particularly in light of recent energy price increases caused by the Iran conflict.