What does the UK public inflation expectations survey measure?

The survey measures British households' perceptions of past inflation, their expectations for inflation over the next 12 months, the following 12 months, and five years ahead, as well as attitudes toward the Bank of England and its inflation target.

How often is the UK public inflation expectations survey published?

The Bank of England publishes these survey results quarterly, with historical series dating back to 1999.

What units are used for UK public inflation expectations?

Expectations and perceptions are reported in percentage rates, while opinions on interest rates and satisfaction with the Bank of England are presented as net balance percentages.

How do expectations questions differ from perceptions in the survey?

Perceptions ask households about inflation over the past 12 months, whereas expectations assess where respondents anticipate inflation will be one, two and five years into the future.

UK public inflation expectations

Name: UK public inflation expectations
Creator: Bank of England — statistical and research datasets

What British households think inflation has been and where they expect it to go — the Bank of England's own quarterly survey, running since 1999.

Source: Bank of England — statistical and research datasetsLast updated: Sep 28, 2026, 05:13Curated by Bui Thanh PhucAbout this data ↓

Indicator	Q3-2026	Q2-2026	Q1-2026	Q4-2025	Q3-2025	Q2-2025	Q1-2025	Q4-2024	Q3-2024	Q2-2024	Q1-2024	Q4-2023	Q3-2023
Perceived and expected inflation4
Perceived inflation over the past 12 months	4.86	5.03	4.63	4.69	4.82	4.72	4.87	4.81	5.23	5.48	6.08	7.46	8.61
Expected inflation over the next 12 months	3.22	3.96	3.22	3.53	3.56	3.22	3.39	2.97	2.72	2.81	3.03	3.27	3.58
Expected inflation in the following 12 months	2.92	3.51	3.17	3.34	3.4	3.19	3.19	2.83	2.6	2.65	2.81	2.78	2.79
Expected inflation in five years	3.21	3.9	3.7	3.75	3.81	3.63	3.56	3.41	3.19	3.13	3.12	3.19	2.92
Attitudes to the inflation target and the Bank of England5
Say the inflation target is about right	36	39	39	36	38	41	39	42	45	40	40	41	40
Say the inflation target is too high	35	32	34	38	33	33	33	33	33	34	31	32	31
Net saying interest rates have risen	40	32	-2	12	0	6	13	21	44	57	62	75	78
Net expecting interest rates to rise	40	42	2	13	4	-1	5	-1	-9	6	9	28	53
Net satisfaction with the Bank of England	5	-2	2	-1	2	6	1	-1	4	-4	-5	-14	-21

Latest reading

Expected inflation over the next 12 months stood at 3.22% in Q3 2026. That is −0.7 pp from Q2 2026 and −0.3 pp from a year earlier. The series on this page is quarterly and runs from Q4 1999 to Q3 2026. Source: Bank of England — statistical and research datasets.

Latest: 3.22%; Q3 2026
vs previous period: −0.7 pp; Q2 2026
vs a year earlier: −0.3 pp

About this data

What British households think inflation has been and where they expect it to go — the Bank of England's own quarterly survey, running since 1999. No statistical agency publishes this: it is opinion, and opinion is what wage bargaining and spending actually run on.

Frequently asked questions

What does the UK public inflation expectations survey measure?: The survey measures British households' perceptions of past inflation, their expectations for inflation over the next 12 months, the following 12 months, and five years ahead, as well as attitudes toward the Bank of England and its inflation target.
How often is the UK public inflation expectations survey published?: The Bank of England publishes these survey results quarterly, with historical series dating back to 1999.
What units are used for UK public inflation expectations?: Expectations and perceptions are reported in percentage rates, while opinions on interest rates and satisfaction with the Bank of England are presented as net balance percentages.
How do expectations questions differ from perceptions in the survey?: Perceptions ask households about inflation over the past 12 months, whereas expectations assess where respondents anticipate inflation will be one, two and five years into the future.