LONDON (Reuters] – British people’s expectations of an inflation rate in a year are at their highest point since 1999. This was revealed by a quarterly Bank of England survey.

In May, the median inflation expectations for twelve months were 4.6%. This is an increase from 4.3% in February.

For the two- and five year periods, expectations rose to 3.4% et 3.5%, respectively. These numbers are higher than those in 2013 and 2019.