Bank of England Inflation Attitudes Survey

2026-06-12 · 06:00 Bank of England Inflation Attitudes Survey: May 2026

2026-03-13 · 07:00 Bank of England Inflation Attitudes Survey: February 2026

Highlights from the Survey

Question 1: Asked to give the current rate of inflation, respondents gave a median answer of 4.7%, down from 4.8% in August 2025.

Question 2a: Median expectations of the rate of inflation over the coming year were 3.5%, down from 3.6% in August 2025.

Question 2b: Asked about expected inflation in the twelve months after that, respondents gave a median answer of 3.3%, down from 3.4% in August 2025.

Question 2c: Asked about expectations of inflation in the longer term, say in five years’ time, respondents gave a median answer of 3.7%, down from 3.8% in August 2025.

Question 3: By a margin of 74% to 4%, survey respondents believed that the economy would end up weaker, rather than stronger, if prices started to rise faster, compared to 69% and 6% respectively in August 2025.

Question 4: 36% of respondents thought the inflation target was ‘about right’, down from 38% in August 2025. The proportions saying the target was ‘too high’ or ‘too low’ were 38% and 10% respectively.

Question 5: 38% of respondents said that interest rates on things such as mortgages, bank loans and savings had risen over the past 12 months, up from 35% in August 2025. Meanwhile, 26% of respondents thought that interest rates had fallen over the past 12 months, down from 35% in August 2025.

Question 6: When asked about the future path of interest rates, 38% of respondents expected rates to rise over the next 12 months, up from 33% in August 2025. 24% said they expected rates to stay about the same over the next twelve months, down from 26% in August 2025 and 25% said they expected rates to decline over the next twelve months, down from 29% in August 2025.

Question 7: Asked what would be ‘best for the economy’ – higher interest rates, lower rates or no change – 13% thought rates should ‘go up’, down from 14% in August 2025. 36% of respondents thought that interest rates should ‘go down’, compared to 33% in August 2025. 27% thought interest rates should ‘stay where they are’, down from 28% in August 2025.

Question 8: When asked what would be ‘best for you personally’, 26% of respondents said it would be better for them if interest rates were to ‘go up’, down from 28% in August 2025. 30% of respondents said it would be better for them if interest rates were to ‘go down’, up from 29% in August 2025.

Question 14: Respondents were asked to assess the way the Bank of England is ‘doing its job to set interest rates to control inflation’. The net satisfaction balance, the proportion satisfied minus the proportion dissatisfied, was -1%, down from 2% in August 2025.

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Highlights from the Survey

Question 1: Asked to give the current rate of inflation, respondents gave a median answer of 4.8%, up from 4.7% in May 2025.

Question 2a: Median expectations of the rate of inflation over the coming year were 3.6%, up from 3.2% in May 2025.

Question 2b: Asked about expected inflation in the twelve months after that, respondents gave a median answer of 3.4%, up from 3.2% in May 2025.

Question 2c: Asked about expectations of inflation in the longer term, say in five years’ time, respondents gave a median answer of 3.8%, up from 3.6% in May 2025.

Question 3: By a margin of 69% to 6%, survey respondents believed that the economy would end up weaker, rather than stronger, if prices started to rise faster, compared to 67% and 5% respectively in May 2025.

Question 4: 38% of respondents thought the inflation target was ‘about right’, down from 41% in May 2025. The proportions saying the target was ‘too high’ or ‘too low’ were 33% and 13% respectively.

Question 5: 35% of respondents said that interest rates on things such as mortgages, bank loans and savings had risen over the past 12 months, down from 37% in May 2025. Meanwhile, 35% of respondents thought that interest rates had fallen over the past 12 months, up from 31% in May 2025.

Question 6: When asked about the future path of interest rates, 33% of respondents expected rates to rise over the next 12 months, unchanged from 33% in May 2025. 26% said they expected rates to stay about the same over the next twelve months, up from 21% in May 2025 and 29% said they expected rates to decline in the same over the next twelve months, down from 34% in May 2025.

Question 7: Asked what would be ‘best for the economy’ – higher interest rates, lower rates or no change – 14% thought rates should ‘go up’, up from 12% in May 2025. 33% of respondents thought that interest rates should ‘go down’, compared to 37% in May 2025. 28% thought interest rates should ‘stay where they are’, up from 26% in May 2025.

Question 8: When asked what would be ‘best for you personally’, 28% of respondents said it would be better for them if interest rates were to ‘go up’, up from 27% in May 2025. 29% of respondents said it would be better for them if interest rates were to ‘go down’, down from 30% in May 2025.

Question 14: Respondents were asked to assess the way the Bank of England is ‘doing its job to set interest rates to control inflation’. The net satisfaction balance, the proportion satisfied minus the proportion dissatisfied, was 2%, down from 6% in May 2025.

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Bank of England Inflation Attitudes Survey

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Highlights from the Survey

Highlights from the Survey