Bank of England: Businesses sharply raise inflation expectations

Bank of England: Businesses sharply raise inflation expectations

Businesses’ inflation expectations shot up in March according to a closely-watched Bank of England survey, as bosses braced for a surge in energy costs as a result of the Iran war. The Banks’ decision makers’ panel, a monthly poll of thousands of execs, found that the average expected inflation rate in the next year was nearly 0.4 percentage points higher than the figure recorded last month.  Expected price growth for the next year had gradually…