UK inflation expectations slipped to the lowest level since summer 2021, before the Bank of England embarked on an aggressive interest-rate hiking cycle to contain prices. Households questioned in February expected prices to rise 3% over the next 12 months, down from 3.3% in November, according to the BOE’s quarterly Inflation Attitudes Survey. It was the lowest since August 2021 shortly before the central bank started on 14 back-to-back rate rises to tackle high inflation. Longer-term predictions were more stubborn, with expectations for the 12 months from February 2025 remaining unchanged at 2.8%, the survey ... (full story)