bullish
UK: Pricing Slowing into Summer-23
554 Views06 Jul 2023 14:03
SUMMARY
- Persistently excessive inflation has startled the BoE into extending its hiking cycle. Though the median is sticky, it may welcome signs of softening mean expectations.
- Wage settlements have risen to especially problematic levels in the UK, creating widespread cost growth. Firms still plan to pass this on and restore margins.
- The BoE must still break the second-round effects from resistance in real wages and margins. At least moderated pricing plans don’t appear as internationally unfavourable.
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