LONDON, April 6 (Reuters) - The British public's
expectations for inflation in the year ahead surged in March
when the pound plunged as the coronavirus outbreak escalated, a
survey from U.S. bank Citi and polling firm YouGov showed on
Monday.
Inflation expectations for the next 12 months shot up to
3.2% from 2.3% in February, the highest level since August last
year. "Unusually, this was despite a sharp reduction in oil
prices," economists from Citi said.
"With short-run expectations also contradicting many –
including our own – expectations that inflation is now likely to
fall, sharp adjustments in inflation expectations may be
necessary over the coming months."
(Reporting by Andy Bruce
Editing by William Schomberg)