Monday, December 27, 2010

The new stagflation: prices of essentials rise while wages stagnate

Pay freeze or cut for many in 2011, says BCC

More than half of UK companies plan to freeze or cut their employees' pay in 2011, according to a survey by the British Chambers of Commerce (BCC). While 45% of firms surveyed said they would give their staff a pay rise, 49% said they would freeze salaries, while 6% said they planned to reduce wages. A BCC spokesman said the response showed companies were taking a "pragmatic approach to pay settlements in a tough environment".

Posted by drewster @ 08:01 PM (1238 views)
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5 thoughts on “The new stagflation: prices of essentials rise while wages stagnate

  • Hat tip to str2007 for pointing out this article in earlier comments.

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  • Cheers drewster, I’ve been on my phone all day so couldn’t post that article.

    Speaking to a brewer today and beer will be going up because of the price of barley.

    Wheat etc. Went up alot last year but bread didn’t, I suspect that was due to bread we’ve been eating to date was purchased at old prices via the futures Market.

    I suspect there may be quite a few other price increase on essentials coming up if beer is going up.

    The pay freezes listed here will certainly be putting a bit of a cap on house prices.

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  • malting barley makes about 14 pints of beer per kilo.Price was 10p per kilo,now about 24p-1p per pint increase.
    Wheat was 8p kilo now 21p. You need 4 to 7 kilos of wheat for each kilo of meat. So about 50 to 100 p per kilo more for meat

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  • The big yellow digger firm just gave out £500 Xmas bonus and 4.7% for next year…….. Not bad eh….. Must be the export Market ….

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  • 3. bluebeach said…The big yellow digger firm just gave out £500 Xmas bonus and 4.7% for next year…….. Not bad eh….. Must be the export Market …

    …Detroit first.

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