UK public inflation expectations jump in July – Citi/YouGov By Reuters

LONDON (Reuters) – The British public’s expectations for inflation over the coming year rose sharply in July to 3.1% from 2.8% in June, although they remain below a recent peak of 3.8% recorded in December, a monthly poll from Citi and YouGov showed on Tuesday.

Longer-term inflation expectations for the next five to 10 years held steady at 3.4%.

“The move here likely reflects the noticeable pick-up in goods prices in recent months, and anticipated energy price increases later in the year. For now, these short-term effects don’t seem to be feeding into longer-term expectations,” Citi economists said in a note to clients.