those weather seems tomorrow. this feature running in off the near continent will be the fly in the ointment because most of the country will have another dry and sunny day, with fresh breezes again. there is the cloud, outbreaks of rain getting in to east anglia and the south east through the afternoon period. a bit of a disappointment for part two of the day. the wind is quite gusty for many areas, especially southern and eastern parts of england. it will be cooler along north sea coasts. temperatures, nine, ten, maybe 11. elsewhere, the low to mid teens with western scotland faring best, high teens are 20 degrees or so. with the dry and sunny weather this time of year, tree pollen will be high or very high, particularfor england and wales. high pressure holds on for the north of the uk for friday but then we start to see these weather fronts get going friday at the weekend. low pressure starts to move in, so it will turn more unsettled with outbreaks of rain and as that lo
can essentially achieve either a sensible can essentially achieve either a sensible outcome where everyone accepts sensible outcome where everyone accepts moderate wage increases and moderate accepts moderate wage increases and moderate profit margins and we achieve moderate profit margins and we achieve a moderate profit margins and we achieve a reduction in inflation without achieve a reduction in inflation without much of a rise in unemployment or weak, as a society, try and unemployment or weak, as a society, try and bargain for higher profit margins try and bargain for higher profit margins and higher wages and you then end margins and higher wages and you then end up with a much more painful way of then end up with a much more painful way of bringing inflation down we as a society way of bringing inflation down we as a society. but there is no choice whatsoever as a society. but there is no choice whatsoever in terms of bringing ihftatioh whatsoever i
is doing worse than other countries on headline inflation? well, look at food inflation in other big economies. it s substantially lower in the us, 8.5%. but it s been rising at a not dissimilar rate in other european countries. it s actually higher in germany, around 23%, the blue line. economists say relative food prices aren t therefore a big driver of the uk divergence on headline inflation. where there is a major gap between the uk and other peer economies, is in energy price inflation. here s annual energy inflation in the uk, around 40% still. and here s the other countries. as you can see, much lower. economists say that it s this factor, energy, which explains most of the gap between the uk headline rate of inflation and that of other big economies. the difference with the big eu economies lies in the design of the uk support for domestic energy users, the price cap,
are unlikely to be going up again, and just three simple arithmetic the rate of inflation will fall. so my concerns are not about uk inflation not going down by half this year, my concerns are about inflation in 2024 and beyond, and that is because wage inflation in the uk still remains stubbornly high in an international context. if you look for example at the us, wage inflation has come down from five points 5.75% a year ago to about 4%, while rage inflation in the uk is still between six and 7% having only come down a little bit. ultimately it is this mystically generated inflation which will drive
to have assured us that inflation was going to have turned down today, so this prediction to have turned down today, so this prediction that it will drop very perceptively in the next week or so, one has perceptively in the next week or so, one has to perceptively in the next week or so, one has to be a bit guarded about that one has to be a bit guarded about that the one has to be a bit guarded about that. the fact is wages are cut, people that. the fact is wages are cut, people are that. the fact is wages are cut, people are finding they are spending their household spending in real terms their household spending in real terms declining, and that is contracting the economy, the reason why we contracting the economy, the reason why we are contracting the economy, the reason why we are still lagging behind our 67m why we are still lagging behind our g7. ., ., why we are still lagging behind our g7. but we also have a completely different labour g7. but we also