June 9, 2017 / 8:37 AM / 9 months ago

UK near-term inflation expectations slip - BoE

LONDON (Reuters) - The British public’s expectations for inflation in a year’s time fell slightly in May compared with three months earlier, but longer-term expectations rose, a Bank of England survey showed on Friday.

FILE PHOTO: A general view shows the Bank of England in the City of London, Britain April 19, 2017.REUTERS/Hannah McKay/File Photo

The BoE said median expectations for inflation in a year’s time slipped to 2.8 percent from February’s peak of 2.9 percent. But expectations for two years out rose to their highest in more than two years at 2.8 percent versus February’s 2.7 percent.

Expectations for inflation in five years’ time rose to 3.3 percent from 3.2 percent, but remained below a peak of 3.4 percent seen in May 2016.

The BoE’s data was based on a survey of more than 2,000 people conducted by polling company TNS between May 5 and May 9.

Reporting by David Milliken; Editing by Gareth Jones

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