Bank of England/Ipsos Inflation Attitudes Survey - February 2025:

• To note, the survey was gathered before the start of the Iran conflict.

Inflation:

• On current rate of inflation, respondents gave a median answer of 4.6% (prev. 4.7% in November).
• Median expectations of the rate of inflation over the coming year were 3.2% (prev. 3.5% in November).
• Expected inflation in the next 12 months, respondents gave a median answer of 3.2% (prev. 3.3% in November).
• Expected longer term inflation of 3.7% (prev. 3.7% in November).

Interest Rates:

• 32% of respondents said that interest rates on things such as mortgages, bank loans and savings had risen over the past 12 months (prev. 38% in November).
• 35% of respondents thought that interest rates had fallen over the past 12 months (prev. 26% in November).
• 30% of respondents expected rates to rise over the next 12 months (prev. 38% in November).
• 29% said they expected rates to decline over the next twelve months (prev. 25% in November).