Inflation expectations hit record high in June

LONDON (Reuters) - Expectations of the rate of inflation over the next 12 months leaped to a record high of 4.6 percent in June from 4.1 percent in May, according to a YouGov/Citigroup survey on Tuesday.

This is the fourth month in a row that the index has hit a record high.

The Bank of England is concerned that rising inflation could become entrenched in the public mindset and is monitoring price expectations closely.

Consumer price inflation rose to 3.3 percent in May, the highest rate since comparable records began in 1997, and is widely expected to hit 4 percent before the end of the year.