By Jonathan Davies
Consumers expect inflation to be 2.2% in 12 months' time, according to a Bank of England survey.
The expectation comes despite the UK falling into deflation in April when prices fell 0.1%. In February, consumers said they expect inflation to be 1.9% next year.
Looking two years ahead, consumers expect inflation to be 2.3%, up from 2.1% in February. But expectations for five years' time remained unchanged at 2.8%.
The Bank also said that the net balance of people who expect interest rates to rise in the next year was +33, up from +28 in February.
