BoE survey reveals growing concern over UK inflationary outlook

Before BoE interest rate decision next week

Respondents to a survey by the Bank of England and Ipsos forecast a higher inflationary outlook than when polled three months ago.

According to the November 2024 Bank of England/Ipsos Inflation Attitudes survey, the median expectation for the rate of inflation over the coming year among respondents was 3%, up from 2.7% in August 2024.  Similarly, when asked about expected inflation in the 12 months after that, respondents gave a median answer of 2.8%, up 0.2 percentage points from August's figure of 2.6%.  UK economy unexpectedly shrinks by 0.1% in October sparking 'cause for concern' Looking more long term, those who took part in the survey were sceptical of the Bank of England achieving its inflation target ...