FXstreet.com (Barcelona) - Inflation is expected to grow at record high year on year levels in the UK over the coming months, economy will weaken considerably, and the odds for a further rate hike have increased considerably, according to the latest inflation attitudes survey published by the Bank of England.

Median expectations of the inflation rate for the coming year have risen to 4.3% in May's survey, the highest estimation since records began in 1999, from the 3.3% estimated in February. As a consequence of higher pices, 70% affirm that economy will end up weaker to a 5% who assess that economy will strengthen.

When asked about the path of interest rates, 48% of the respondents expects a rate hike over the next 12 months, compared to 43% in February.