Inflation & Prices
UK Wage and Inflation Data Set to Fuel Further BOE Rate Hikes
- Central bank weighs pause in quickest rate rises in 30 years
- Signs of wage-price spiral will keep upward pressure on rates
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UK wage and inflation data this week are likely to support arguments from Bank of England policy makers who want to keep raising interest rates, adding to the quickest surge in borrowing costs in three decades.
Economists expect two separate reports will show that consumer prices are still rising at a double-digit pace and that companies are boosting pay at the quickest pace on record, excluding the year that was distorted by pandemic lockdowns.