Should you buy a property to protect against inflation?

People are starting to get worried about inflation. Consumer price index (CPI) inflation – the official measure – is sitting at 3.3%. But the most recent survey from the Bank of England showed that people believe inflation is more like 3.9%. And they reckon it will stay at that level for the next 12 months. That's the highest expectations have been since 2008. In February, consumers thought inflation would be just 2.5% over the next 12 months. The big danger with expectations is that they may become reality, as people demand higher wages to match, and companies push up prices as a result. So are we going to see interest rates rising soon? The Confederation of British Industry (CBI) reckons so. In fact, the CBI reckons that the Bank will start hiking rates within the next six months. But are they right? And if inflation is set to head higher, how best can you protect yourself?