UK public inflation expectations stabilise after jump - Citi/YouGov

FILE PHOTO: A man walks past the shop with a sale sign in the window, amid the outbreak of the coronavirus disease (COVID-19), in London, Britain, September 28, 2020. REUTERS/Hannah McKay

LONDON (Reuters) - The British public’s expectations for inflation held steady in October after a big jump in September when the COVID-19 pandemic flared up again, a survey showed on Tuesday.

Expectations for inflation in a year’s time stayed put in October at 3.2%, U.S. bank Citi and polling firm YouGov said.

The outlook for inflation in five to 10 years’ time eased a little to 3.5% from 3.6% in September.

“Household inflation expectations remain anchored, but further increases could suggest challenges,” economists from Citi said.

Reporting by William Schomberg, writing by Andy Bruce, editing by David Milliken