UK: Public inflation expectations for 12 months ahead fall to 5.7% in December from 6.1%

A monthly survey conducted by Citi and YouGov revealed on Wednesday that the British public's inflation expectations for 12 months ahead declined to 5.7% in December from 6.1% in the previous survey, as reported by Reuters.

Public inflation expectations for 5-10 years ahead fell to 3.6% from 3.9% previously, the survey further showed.

Finally, Citi said that the latest findings point to a moderating risk of a more embedded inflation through 2023.

Market reaction

GBP/USD edged lower from the daily high it set at 1.2087 and was last seen trading near 1.2050, where it was still up 0.7% on a daily basis.