Consumers expectations for future inflation rates in the UK have eased, according to research from the Bank of England, but criticism of the central bank has hit an all-time high.
The BoE's quarterly inflation attitudes survey showed expectations for inflation in the coming 12 months fell to 3.5% from 3.9% in February.
Consumers see inflation falling to 2.6% in two years time and 3% on a five-year time frame.
But satisfaction with the BoE's actions in dealing with inflation fell to negative 13% from negative 4% in February 2023.
The survey was conducted in mid-May, before recent inflation and jobs data sent expectations in financial markets for more BoE interest rate hikes sharply higher - with a big knock-on effect in mortgage costs.
The news will be welcomed by the Bank of England as it looks to tame rising prices. Consumer price inflation has remained stubbornly high while wage growth accelerated in latest figures from the Office for National Statistics.
Tesco reported today it had seen "encouraging" signs of easing pricing pressures.