Worry?

Article Abstract:

UK wages rose by 5% for the 12 months to Jan 1997, higher than the previous estimate of 4.25%. Employment has increased and the labor market appears to be tightening. Retail sales volume growth, at 4.5% for the year to Feb is also above government estimates and could rise further due to windfalls worth 20 billion pounds sterling. The money supply is also increasing. Inflation may be less of a problem than feared, with wage rises boosted by bonuses in the financial services industry in London, England, but interest rates may still be raised after the 1997 election.

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An inflation hiccup

Article Abstract:

UK inflation could be lower than estimated since the harmonized measure for the European Union is lower than the national measure at 1.7% compared to 2.5%. The UK retail price index excludes some items like personal computers that are included in the harmonized measure. The Bank of England should still seek higher interest rates since the UK inflation target has been set bearing the national inflation measure in mind, and inflation should be low due to the high value of pound sterling.

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