However, there was a notable decline at the five-year-ahead horizon, with expectations dropping by 0.2 percentage point to 2.8 per cent. Interestingly, while there was reduced disagreement among respondents about the one-year-ahead horizon, differences in opinions grew at the three- and five-year horizons. Concurrently, there was a slight increase in uncertainty about future inflation across all periods under consideration, as per the survey.
In terms of labour market projections, there was a mild increase in the median earnings growth expectation for the upcoming year, moving by 0.1 percentage point to 3 per cent. This figure has hovered between 2.8 per cent and 3 per cent since September 2021. Meanwhile, average unemployment expectations edged up by 1.6 percentage points to reach 40.1 per cent, aligning with its 12-month average. People's perceived chances of job loss in the forthcoming year saw a decline, while their optimism about finding a new job, should they lose their current one, increased, particularly among those above the age of 60.
ALCHEMPro News Desk (DP)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
