UK inflation expectations rise in November At a two-year horizon, Britons expected inflation of 3.2pc, and in five years time they saw inflation at 3.6pc. In August, the expectation was for 2.8pc and 3.1pc respectively. The news of the rise in inflation expectations follows the biggest jump in more than a year in the consumer price index of inflation targeted by the BOE, which rose to 2.7pc in October. The people surveyed for the BOE believed that inflation was running at a rate of 4.4pc, higher than in August. This increase was a factor behind the decision by some members of the BoE's Monetary Policy Committee not to approve more quantitative easing to stimulate the economy in November, and on Thursday the MPC again voted to hold asset purchases at £375bn for another month. Higher university tuition fees and food prices lay behind most of October's rise, however, and there is little sign of widespread inflation pressures in an economy which is still struggling to generate solid growth, four years after the height of the financial crisis. The BOE forecasts inflation of about 2.6pc for the fourth quarter of 2013, and of 2.3pc for Q4 2014. The survey was carried out for the BoE by polling company GfK NOP, which surveyed 2,012 people between November 1 and November 6. It also showed that net public satisfaction with the BOE had risen from the record low hit in August's survey.