Asked to give the current rate of inflation, respondents gave a median answer of 7.5%, down from 8.6% in August 2023. Median expectations of the rate of inflation over the coming year were 3.3%, down from 3.6% in August 2023. Asked about expected inflation in the twelve months after that, respondents gave a median answer of 2.8%, unchanged from 2.8% in August 2023. Asked about expectations of inflation in the longer term, say in five years’ time, respondents gave a median answer of 3.2%, up from 2.9% in August 2023. By a margin of 69% to 6%, survey respondents believed that the economy would end up weaker, rather ... (full story)