Consumers are increasingly pessimistic about the Bank of England's ability to control high inflation, but few have a plan to move their savings out of banks and building societies to seek higher returns.
On average, consumers perceive inflation to be 0.4% higher than the official CPI rate, according to the Bank of England's (BoE) latest Inflation Attitudes Survey. The figure is up from the previous survey in November, when respondents said they felt inflation biting at 3.9%. Official figures show CPI at 4%. The BoE target for inflation is 2%. Consumer pessimism is set to continue as respondents expect inflation at 4%, for the next year, up from 3.9% in the last survey. Over the following year consumers predict CPI at 3.4%, up from their previous expectation of 3.2%. But despite ...
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