LONDON, March 12 (Reuters) - The British public’s expectations for inflation over the next 12 months held at its lowest level in more than four years, in sharp contrast to a recent rise in market expectations, Bank of England data showed on Friday. Average expectations for inflation over the next 12 months remained at 2.7% - its lowest reading since August 2016 alongside November’s figure. Asked about inflation for the following year, the public saw it at 2.2%, compared with 2.1% in November, while longer-term inflation was expected to hold steady at 2.9%, just above a five-year low recorded in August 2020. (Reporting by David Milliken, editing by Andy Bruce)