LONDON (dpa-AFX) - UK inflation expectations increased in February, the latest quarterly Inflation Attitudes Survey conducted by Ipsos on behalf of the Bank of England revealed Friday.
The one-year ahead inflation expectations rose to 3.4 percent in February from 3 percent in November.
The current inflation rate is estimated to be 4.9 percent compared to 4.8 percent in November.
For the longer-term, say in five years' time, inflation is seen at 3.6 percent, up from 3.4 percent in November.
When asked about the future path of interest rates, 34 percent of respondents said interest rates will rise over the coming year. About 23 percent said rates will stay about the same, while 29 percent forecast rates to fall over the next twelve months.
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