March 26, 2019 / 2:58 PM / 6 months ago

UK public's inflation expectations cool in March - Citi/YouGov

FILE PHOTO: A shopper selects fruit in an Aldi store in London, Britain, February 15, 2018. REUTERS/Peter Summers/File Photo

LONDON (Reuters) - The British public’s expectations for consumer price inflation in the year ahead cooled to 2.7 percent this month from 2.9 percent in February, a survey showed on Tuesday.

Longer-term inflation expectations also cooled to 3.0 percent from 3.2 percent, its lowest since May 2017, the survey from U.S. investment bank Citi and polling firm YouGov showed.

“Amid some volatility, long-term inflation expectations keep printing new lows. This establishes a downtrend, potentially due to weaker economic prospects,” Citi economists said about the numbers.

Official data last month showed annual consumer price inflation ticked up in February to 1.9 percent, although it remained close to January’s two-year low.

YouGov polled 2,024 British adults on March 19 and March 20.

Reporting by Andy Bruce, editing by David Milliken

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