Bank of England survey shows record business inflation expectations

© Reuters. FILE PHOTO: The Bank of England is seen in the City of London, Britain, February 14, 2017. REUTERS/Hannah McKay

LONDON (Reuters) – British businesses expect prices to rise by the most over the next 12 months since at least 2017 and they reported growing recruitment difficulties, a monthly survey by the Bank of England showed on Thursday.

Businesses surveyed in February expected inflation in 12 months’ time to be 5.0% – matching December’s record high. On the three-month average basis preferred by the central bank, the reading of 4.8% was the highest since the series began in 2017.

The proportion of firms reporting much greater recruitment difficulties than normal rose to 59% in February from January’s 55%.

Bank of England survey shows record business inflation expectations

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