U.S. Consumers Happy to Keep Spending; Inflation Remains Too High for Fed s Kashkari By James Christie Good day. U.S. retail sales data reported yesterday provided further evidence of a. -Today at 07:16 am- MarketScreener
what does this potentially need for interest rates because we have seen rises through the year could there be another one around the corner? t be another one around the corner? i think because the current level of inflation and be still higher level of inflation with the core inflation staying high there will be a lot of pressure on the bank of england to continue increasing interest rates. that is also because we have seen wage data, through which shows wage growth has been quite strong this year. when wages are growing that also puts pressure on businesses to increase their prices to be able to afford those higher wages for their employees. i think these pressures on the bank of england will definitely continue. the on the bank of england will definitel continue. ., definitely continue. the government wants to have definitely continue. the government wants to have the definitely continue. the government wants to have the rate definitely continue. the government wants to have th
and not looking for a job, that has also gone down with older workers returning to the workforce. but there is a record number of people who cannot work because of long term sickness so is a mixed picture when it comes to the labour market and when you look at interest rates, this is one set of figures they are going to be looking at. we have inflation numbers tomorrow and then another set of inflation numbers and wage data before we get the next bank of england decision. too early to say in the smart money seems to be that we will get a next raised interest rate but the one after that we may have a pause or maybe another increase, that is where there seems to be disagreement. to be disagreement. peter, thanks for “oininu to be disagreement. peter, thanks forjoining us- from economics to celebrity creativity: the concept of a celebrity creative director appears to be back in vogue.
live now to michael, an economics professor at oxford university. we are seeing this rise in pay, but is that outstripping the pace of price rises? so is it really good news? it is slightly good news in the sense that this month, we already have the inflation numbers forjune, the wage data goes up tojune, and for the first time in a while in real terms, wages have grown. but you have to remember that wages have actually been falling since october 2021 in terms of purchasing power, and so we are starting to turn the corner in terms of wages, so that is slightly good news but there s still a long way to go. there s also other news with this release is that vacancies are down again and the unemployment rate has gone up a little bit, so there are signs of a slowing job market. so there are signs of a slowing ob market. , ., ., market. so it is not all positive. you mentioned
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