U.K. Consumers Get No Relief Just Yet From Inflation Squeeze
- BOE Governor Mark Carney sees some improvement in 2018
- Inflation, wage, retail-sales data will be published next week
U.K. Unemployment Falls to 4.4%, Wages Top Estimates
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U.K. shoppers are in the “teeth” of a squeeze on their pockets and they’re going to have to ride it out for the rest of the year.
That’s the view of Bank of England Governor Mark Carney, who said this month that consumers may have to wait a bit longer to see real wage growth again. Data next week will reinforce that view, with inflation continuing to outpace incomes, leaving retail sales struggling to build momentum.