Details of the BOE monthly Decision Maker Panel for October
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Year-ahead Own-price Inflation:
- Remained unchanged at 3.5% in the three months to October.
- Firms expect output price inflation to decrease by 0.5 percentage points over the next 12 months.
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CPI Inflation:
- Perceived CPI inflation was 2.7% in the three months to October, unchanged from the previous three months.
- Expectations for CPI inflation a year ahead stayed at 2.6% in the three months to October.
- Three-year ahead CPI inflation expectations also remained at 2.6% in the same period.
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Wage Growth:
- Reported annual wage growth was 5.6% in the three months to October, a slight decline of 0.1 percentage points from the previous period.
- Expected year-ahead wage growth remained steady at 4.1% on a three-month moving-average basis in October.
- Firms anticipate a decline in wage growth by 1.5 percentage points over the next 12 months based on three-month averages.
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Employment Growth:
- Reported annual employment growth rose by 0.1 percentage points to 0.6% in the three months to October.
- Expected year-ahead employment growth remained unchanged at 1.1% in three-month averages and October’s single-month data.
- Firms expect employment growth to increase by 0.5 percentage points over the next 12 months, according to three-month averages.
This article was written by Greg Michalowski at www.forexlive.com.
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