UK consumers find a bit of confidence, still see high inflation, BofA says
2022.08.02 12:26
Shoppers walk on Oxford Street, as rules on wearing face coverings in some settings in England are relaxed, amid the spread of the coronavirus disease (COVID-19) pandemic, in London, Britain, January 27, 2022. REUTERS/Toby Melville
LONDON (Reuters) – Bank of America (NYSE:BAC) said on Tuesday its British consumer confidence indicator rose two points in July to its highest since March although it remained consistent with a recession.
The bank’s monthly survey also found consumer inflation expectations were largely unchanged through July after falling over several months.
“Expectations are still high, suggesting risks of further second-round effects, but the Bank of England can take some comfort that the slowing economy may be ameliorating inflation expectations,” BofA economist Robert Wood said.
