UK firms dial back price and wage growth expectations – BoE
2023.08.03 09:35
© Reuters. FILE PHOTO: A view of the London skyline shows the City of London financial district, seen from St Paul’s Cathedral in London, Britain February 25, 2017. REUTERS/Neil Hall/File Photo
LONDON (Reuters) – The Bank of England said on Thursday that businesses expected slower increases in the prices they charge and the wages they pay to staff, citing the findings of a monthly survey.
Output price inflation expectations for the year ahead slowed to 5.2% in the three months to July, down by 0.1 percentage point from the three months to June, the Decision Maker Panel survey showed.
Expected year-ahead wage growth decreased to 5.0% in July from 5.3% in June, the BoE said.
The Decision Maker Panel survey of businesses was conducted between July 7 and July 21 and received 2,227 responses.
