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UK 2.2% June CPI inflation expectations - a total farce!


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Oh dear... as the Bank of England moves into panic mode on wage inflation. 

https://www.poundsterlinglive.com/economics/15711-broadbent-warns-of-significant-inflation-but-is-coy-on-need-for-interest-rate-rises

"Broadbent notes a mismatch in the supply and demand for labour across the UK during the reopening process has helped put near-term pressure on wages, an important driver of inflation that the Bank cannot simply ignore.

"The behaviour of labour costs will for me be important in judging the appropriate stance for monetary policy. This won’t be straightforward," said Broadbent."

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7 hours ago, gruffydd said:

Oh dear... as the Bank of England moves into panic mode on wage inflation. 

https://www.poundsterlinglive.com/economics/15711-broadbent-warns-of-significant-inflation-but-is-coy-on-need-for-interest-rate-rises

"Broadbent notes a mismatch in the supply and demand for labour across the UK during the reopening process has helped put near-term pressure on wages, an important driver of inflation that the Bank cannot simply ignore.

"The behaviour of labour costs will for me be important in judging the appropriate stance for monetary policy. This won’t be straightforward," said Broadbent."

There's no panic there. They'll continue looking through any inflation in order to keep house prices elevated. Remember, millions of public sector workers are getting sweet F.A.

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2 hours ago, dpg50000 said:

There's no panic there. They'll continue looking through any inflation in order to keep house prices elevated. Remember, millions of public sector workers are getting sweet F.A.

There certainly is... suspect their hand is being forced by wage inflation comments from the big recruitment firms... Hays, Reef, etc. https://tradingeconomics.com/united-kingdom/wage-growth

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26 minutes ago, gruffydd said:

There certainly is... suspect their hand is being forced by wage inflation comments from the big recruitment firms... Hays, Reef, etc. https://tradingeconomics.com/united-kingdom/wage-growth

How much of that is composition based?

We still have a ton of furloughed or unemployed low paid bar staff etc during that period and not so many lawyers and bankers etc out of work.

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9 minutes ago, captainb said:

How much of that is composition based?

We still have a ton of furloughed or unemployed low paid bar staff etc during that period and not so many lawyers and bankers etc out of work.

good question... haven't got the data on furloughed staff although numbers have fallen a great deal now. 

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