UK inflation expectations hit five-year high - Citi/Yougov

FILE PHOTO: Shoppers browse aisles in a supermarket in London, Britain April 11, 2017. REUTERS/Neil Hall

LONDON (Reuters) - The British public’s expectations for inflation have risen to their highest level in five years, a monthly YouGov survey for Citi showed on Tuesday.

Public inflation expectations for the next 12 months rose to 2.9 percent in September from 2.7 percent in August. Longer-run inflation expectations for the next 5 to 10 years rose to 3.4 percent from 3.3 percent.

Both readings were the highest in five years.

Official data published earlier this month showed that consumer price inflation unexpectedly rose in August to 2.7 percent, a six-month high.

The Citi/YouGov survey was based on a poll of 2,073 adults conducted on Sept. 20 and 21.

Writing by William Schomberg; editing by Michael Holden