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...“The most important message is that core inflation is still coming down,” said Gregory Daco, chief economist at EY. “We knew there would be some upward pressure from energy prices . . ....
...Ruth Gregory, deputy chief UK economist at Capital Economics, said the wet weather was probably a bigger driver of the fall in retail sales than the cost of living crisis....
...UK consumer price inflation peaked at a 42-year high of 11.1 per cent in October 2022, while real wages contracted for most of 2022 and 2023....
...Gregory said the figures provided “evidence that tax receipts remained buoyant”....
...But Ruth Gregory, economist at research company Capital Economics, cautioned that “the smaller-than-expected fall in CPI inflation raises the risk that inflation will follow the trend in the US and soon...
...Many economists expect rising wages, easing inflation and lower borrowing costs will help the economy pick up pace this year....
...Labour market data released earlier in the week also pointed to lingering wage pressures that could continue to fuel prices in the coming months....
...They also point to seven months of real wage growth and the effects of Hunt’s cuts to national insurance — worth £900 a year to the average worker — feeding through into pay packets....
...The knock-on effect is that “our wage bill has increased significantly the past few years”, but he says the business is still making a profit....
...But Gregory Daco, chief economist at EY, said he expected a slowdown in wage growth in coming months as the US economy adds “a growing pool of available workers, including from immigration”....
...“The evidence in the UK isn’t there for rate cuts in the near term,” said Ruth Gregory, deputy chief UK economist at the research company Capital Economics....
...Accelerating wage growth “supports our view that the Bank of England will deliver one more 25 basis point rate hike before it brings its tightening cycle to a close”, said Ruth Gregory, deputy chief UK economist...
...Letter in response to this article: Surge pricing is a lose-lose game in most consumer markets / From Chris Gilchrist, Exmouth, Devon, UK...
...Ruth Gregory, economist at Capital Economics, said: “With wage expectations of businesses remaining elevated, higher wages are becoming embedded in businesses’ future budgets.”...
...“The bank does not appear to have taken any comfort from subsiding price pressures in the US and the eurozone,” said Ruth Gregory of Capital Economics, adding that the BoE’s statement “suggests it is happy...
...The figures suggest “the cost of living crisis is coming to an end”, said Ruth Gregory, an economist at the consultancy Capital Economics....
...Higher inflation and wages could, according to some forecasters, feed through to lower-than-expected borrowing further out in the OBR’s outlook, helping Hunt’s headroom....
...Deputy chief UK economist at Capital Economics Ruth Gregory says: “The evidence in the UK isn’t there for rate cuts in the near term.”...
...Ruth Gregory, economist at the consultancy Capital Economics, said the data did “not change the big picture that the economy has lagged behind all other G7 countries, aside from Germany and France, since...
...The OBR said the government’s receipts were “strong”, in part due to higher company profits, wage growth and inflation....
...Ruth Gregory, economist at Capital Economics, said Britain’s higher core inflation reflected higher wage growth and labour shortages....
...I'm very focused on trying to create a knowledge-based economy with high-wage jobs. That's why I'm betting on the semiconductor industry....
...The strong tax receipts reflected “brisk growth in nominal GDP and wages”, explained Samuel Tombs, economist at Pantheon Macroeconomics....
...The further rebound in retail sales volumes in May suggested “the recent resilience in economic activity hasn’t yet faded”, said Ruth Gregory, economist at Capital Economics....
...Ruth Gregory, deputy chief UK economist at the consultancy Capital Economics, said: “With wage growth and services inflation both stronger than the bank had expected, it seems clear that the bank has more...
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