Monday, Jan 08, 2007
Pay deals show true inflation
BBC News: Pay settlements 'on the increase'
New pay deals are increasing because of pressure from rising inflation, a survey has suggested. Incomes Data Services (IDS) said its first snapshot survey of the year put wage settlements at about 4%, up from 3% in the last three months of 2006.
Posted by harold @ 09:56 AM (171 views) Add Comment
4 Comments
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1. tyrellcorporation said...
Ha bloody ha... the dreaded wage inflation - price inflation spiral is here. Incompetent a**holes at the MPC/BoE have let the beast loose!
Now this is going to get interesting...
2. talking rot said...
I am surprised it is only 4%. I wonder if the Office of Notional Statistics inflation calculator will lead to higher wage demands.
Interesting piece on this morning's Radio 4 "Today" programme. Apparently immigration does not force wages lower because these has been an increase in the number of jobs around - this explains why Employment is higher.
Get those wage demands in ...
3. sirgoogle said...
So the 49 out of 50 economists are wrong and the markets are right (see later article posted).
There is no excuse for not raising IRs on the 11th.
4. paul said...
Yeah you're kind of right sirgoogle.
The warning signs are all there. Only complacency and incompetence can stand in the way of sensible inflation management.