UK public inflation expectations tick up in May - BoE

LONDON, June 5 (Reuters) - The British public's expectations for inflation in the next 12 months ticked up in May despite consumer prices falling recently for the first time in decades, according to a Bank of England survey on Friday.

The quarterly poll also showed a slightly higher proportion of Britons expect interest rates to rise in the next year compared with three months ago.

The median expectation for inflation in 12 months' time rose to 2.2 percent from 1.9 percent in February, the BoE said.

Inflation expectations two years ahead rose to 2.3 percent from 2.1 percent, while they were unchanged at 2.8 percent for five years in the future.

A similar survey by polling company YouGov (LSE: YOU.L - news) for Citi, which was published last week, showed the British public's expectations for inflation in the next 12 months eased back in May to 1.0 percent.

BoE policymakers will be heartened that Friday's survey showed no hint that the recent dip in consumer prices -- which the central bank expects to be temporary -- had fed expectations of sustained deflation among members of the public.

BoE Governor Mark Carney said last month it was "possible" that British interest rates would be higher in a year's time. In Friday's survey, the net balance of Britons expecting interest rates to rise over the next 12 months rose to +33 in May from +28 in February.

Economists polled by Reuters last week showed the BoE is expected to keep interest rates at a record low until at least early next year as inflation remains stubbornly below target.

The survey was conducted between May 8 and May 13 and was conducted by GfK NOP. (Reporting by Andy Bruce and William Schomberg)