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Britons' 1-Year Ahead Inflation Expectations Rise: BoE/TNS Survey

Britons' one-year ahead inflation expectations rose in August, the latest quarterly Inflation Attitudes Survey from the Bank of England and TNS showed Friday.

Respondents forecast inflation to rise to 3.3 percent over the coming year compared to the previous forecast of 3.1 percent. Inflation is expected to ease to 3 percent in twelve months after one year.

About 44 percent of respondents reported that Brexit has raised their 2-year-ahead inflation expectations and 9 percent said it has lowered their expectations.

In five years' time, inflation is seen at 3.1 percent compared to 3.8 percent estimated in May.

Respondents assessed the current inflation at 3.1 percent, the same as in May.

When asked about the future path of interest rates, 22 percent said rates might stay about the same over the next twelve months, the same as in May. 43 percent of respondents expected rates to rise over the next 12 months, down from 49 percent in May.

The quarterly survey was conducted by TNS between July 31 and August 4.

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