© Reuters. FILE PHOTO: The Bank of England can be seen as people cycle through the City of London financial district, in London, Britain, June 11, 2021. REUTERS/Henry Nicholls/File Photo
LONDON (Reuters) – The British public’s expectations for inflation over the coming year rose sharply in July to 3.1% from 2.8% in June, although they remain below a recent peak of 3.8% recorded in December, a monthly poll from Citi and YouGov showed on Tuesday.
Longer-term inflation expectations for the next five to 10 years held steady at 3.4%.
“The move here likely reflects the noticeable pick-up in goods prices in recent months, and anticipated energy price increases later in the year. For now, these short-term effects don’t seem to be feeding into longer-term expectations,” Citi economists said in a note to clients.
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