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UK public inflation expectations hold at 2.1 pct in June

Reuters - UK Focus

LONDON, June 30 (Reuters) - Britons' expectations for inflation over the next 12 months were unchanged in June at 2.1 percent, a monthly poll by YouGov (Other OTC: YUGVF - news) showed on Monday.

Inflation expectations for the next five to 10 years edged lower to 3.0 percent in June from 3.1 percent in May, and compare to an official reading for consumer price inflation (CPI (Other OTC: CPICQ - news) ) of just 1.5 percent in May.

"These results are benign in our view," said Michael Saunders, chief UK economist at Citi, which sponsors the poll.

"There is no sign yet that the mix of ultra-low interest rates and rapid house price gains is lifting inflation expectations. Nor is there any sign that the recent drop in CPI inflation is creating expectations of excessively low inflation," he added. (Reporting by David Milliken; Editing by Ana Nicolaci da Costa)