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UK inflation set to ease, but not as quickly as investors hope

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Official data is expected to show that inflation in the UK is easing, but not as quickly as investors are hoping for. The Consumer Prices Index is likely to drop to 3.8% in December from 3.9% the previous month. Labour market figures may also indicate slowing wage growth and falling job vacancies. This suggests that Britain is no longer the country with the worst inflation problem among the G7 nations, potentially paving the way for interest-rate cuts by the Bank of England to support the stagnant economy. However, BOE policy makers caution that there is still work to be done in controlling the wage-price spiral.

Inflationary pressures in the UK are set to ease again this week, though not as quickly as investors are hoping as they bet on a swift round of interest-rate cuts. Official data on Wednesday is likely to show the Consumer Prices Index eased to 3.8% in the year through December from 3.9% the month before, a survey of economists by Bloomberg showed. Labour market figures the day before may show slowing wage growth and falling job vacancies.

The figures if they pan out as expected would show Britain is shedding its status as having the worst inflation problem in the Group of Seven nations. That would open the way for the Bank of England to shift toward rate cuts in order to prop up a stagnant economy. BOE policy makers led by Governor Andrew Bailey warn that they have a way to go in reining in a wage-price spira

 

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