TNS interviewed a quota samples of people aged 16 and over in 368 randomly selected output areas or group of output areas (sample points) throughout the United Kingdom; 2095 people between 4 and 8 November 2016. The raw data were weighted to match the demographic profile of the UK as a whole.
Highlights from the survey
- Question 1: Asked to give the current rate of inflation, respondents gave a median answer of 2.3%, compared to 1.8% in August.
- Question 2a: Median expectations of the rate of inflation over the coming year were 2.8%, compared with 2.2% in August.
- Question 2b: Asked about expected inflation in the twelve months after that, respondents gave a median answer of 2.5%, compared with 2.2% in August.
- Question 2c: Asked about expectations of inflation in the longer term, say in five years’ time, respondents gave a median answer of 3.1%, compared to 3.0% in August.
- Question 3: By a margin of 50% to 10%, survey respondents believed that the economy would end up weaker rather than stronger if prices started to rise faster, compared with 44% to 10% in August.
- Question 4: 53% of respondents thought the inflation target was ‘about right’, down from 55% in August, while the proportions saying the target was ‘too high’ or ‘too low’ were 20% and 11% respectively.
- Question 5: 29% of respondents thought that interest rates had fallen over the past 12 months, compared with 36% in August, while 20% of respondents said that interest rates had risen over the past 12 months, compared with 14% in August.
- Question 6: When asked about the future path of interest rates, 28% said rates might stay about the same over the next twelve months, down from 36% in August. 41% of respondents expected rates to rise over the next 12 months, up from 21% in August.
- Question 7: Asked what would be ‘best for the economy’ – higher interest rates, lower rates or no change – 21% thought rates should ‘go up’, up from 20% in August. 16% of respondents thought that interest rates should ‘go down’, compared to 15% in August. 36% thought interest rates should ‘stay where they are’, unchanged since August.
- Question 8: When asked what would be ‘best for you personally’, 24% of respondents said interest rates should ‘go up’, compared with 23% in August. 25% of respondents said it would be better for them if interest rates were to ‘go down’, up from 22% in August.
- Question 14: Respondents were asked to assess the way the Bank of England is ‘doing its job to set interest rates to control inflation’. The net satisfaction balance – the proportion satisfied minus the proportion dissatisfied – was +31%, down from +34% in August.
Detailed survey tables