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UK consumers find a bit of confidence, still see high inflation, BofA says

Published 08/02/2022, 05:17 AM
Updated 08/02/2022, 06:00 AM
© Reuters. 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.

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