BOE Decision Maker Panel for Oct: Year ahead own-price inflation unchanged at 3.5%

Details of the BOE monthly Decision Maker Panel for October

• 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.

• 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.

• 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.

• 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.