UK Price Pressures Were Easing Before Iran War, BOE Survey Finds
Economists estimate that high oil and gas prices could add a percentage point to inflation in the coming months.
Photographer: Chris Ratcliffe/BloombergUK business expectations of inflation and wages were gradually falling into line with Bank of England targets before the conflict in the Middle East began but were still uncomfortably high, the bank’s regular survey of chief finance officers showed.
Firms responding to the Decision Maker Panel reported unchanged wage growth expectations for the year ahead at 3.6%, the poll published Thursday found, but the figure is on track to fall next month to the lowest since the series began in July 2022.