![]() The central bank is deeply concerned that inflation could become entrenched, a risk that is growing as inflation shows no signs of abating this month," commented Victoria Scholar, Head of Investment at interactive investor. A tight labor market, with a shortage of workers, and strong wage growth increase business costs, which are passed on to consumers in terms of higher prices. "Although inflation has fallen from its peak of 11.1 percent in October, the latest data have been higher than expected, highlighting continued price pressures in the economy. (Alliance News) - Piazza Affari opens in surplus, Wednesday, while other European stock exchanges follow a bearish trend with London doing worse than all after the ONS released data on inflation, which rose 8.7 percent in the UK in May, unchanged from April, despite expectations for a drop to 8.4 percent, putting pressure on the Bank of England, which will announce its monetary policy decisions tomorrow.
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