Friday, January 4, 2008

Slash rates as wages rise?

U.K. Wages Rise at Fastest Pace in at Least 13 Years, IDS Says

Jan. 4 (Bloomberg) -- U.K. wage negotiators agreed on the biggest salary increases since at least 1994 in the three months through January as inflation fueled higher pay demands, Incomes Data Services said. The median salary settlement rose to 4 percent from 3.4 percent in the three months through December, the London-based researcher said in an e-mailed statement today. The reading is based on 30 agreements covering 434,889 workers.

Posted by uro_who @ 07:31 AM (390 views)
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2 thoughts on “Slash rates as wages rise?

  • C'mon Correction says:

    The inflation problem just isn’t going away, in fact it’s going to get a lot worse in the next few months. I think the BOE will cut rates soon (maybe Feb ?) because they are controlled like puppets on a string by a desperate government. But should they – Hell, no ! Sterling dropping off a cliff, oil at record levels, wage inflation threatening to spiral out of control (remember the last Labour goverment anyone ?!!), house prices (although now falling) still approx 50% over-inflated and report after report of inflation busting increases in virtually every sector of the economy.

    I think this government needs to take this one on the chin, stop playing with CPI and RPI and measure it properly, increase interest rates slightly, let the inevitable recession happen and try to control things in order to maintain medium-long term economy sustainability and stability.

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  • Wage setllements rising because people are starting to realise that the official inflation figures are utter rubbish. This will further fuel inflation, as will a falling pound, wage inflation from places like china, the increase in oil and other fuel costs, etc.

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