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BOE DMP survey shows inflation concerns receding from peak, but still high

UK DATA

The overall tone of the BOE Decision Market Panel survey for November is that inflation perceptions are coming down a little bit, as are expected wage growth numbers. However, they are not coming down anywhere near fast enough, and remain at very elevated levels so this will still be a concern to the MPC.

  • "Annual private sector output price inflation in the DMP was 7.4% in the three months to November, 0.2 percentage points lower than in the three months to October. The single month figure for November was 7.2%, down from 7.8% in October. Expected year-ahead annual output price inflation was 6.2% in the three months to November, down from 6.4% the previous month (the single month data was 5.7%, 0.5 percentage points lower than in October)."
  • "Average wage growth was reported to have been 6.1% over the 12 months to November, and was expected to be 5.8% over the next 12 months."

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