UK public expects inflation to remain high for years to come - Bank of England

The British public expects inflation levels to remain high for at least the next two years, a Bank of England survey showed on Friday, though expectations of inflation in one year's time fell compared to opinions a month ago.

Asked what they thought what level inflation would be in a year's time, the median response in May was a prediction of 2.8%, which was down from February's high watermark of 2.9%.

The BoE revealed that expectations for two years out rose to their highest in more than two years at 2.8% versus February's 2.7%.

Expectations for inflation in five years' time rose to 3.3% from 3.2%, but remained below a peak a year ago of 3.4%.

The BoE's data was collected by pollster TNS from more than 2,000 people between 5 May and 9 May.