The survey shows that public expectations for inflation in the next 12 months rose to 3.9% in January. That is up from 3.5% in the December survey, pretty much erasing the drop in the month before. The increase is due to worries about shipping disruptions, considering the Red Sea situation.
Meanwhile, long-term inflation expectations i.e. 5-10 years ahead, were more stable. But it also showed a slight increase from 3.4% in December to 3.6% in January.