– Daily Commentary BY THE CURVE TEAM –
Daily Insights – Q3 Wages
18 November, 2021
Q3 Wages
- Wages were up 0.6% for the September quarter, amounting to a 2.2% rise on last year.
- Q1 and Q2 in 2020 were very soft, so the annual figure is higher from lower base effects.
- Anecdotes of higher big wage pick-ups did not show in the numbers and there was no evidence of runaway inflation.
- The figures were more supportive of Governor Lowe’s dovish outlook on Tuesday.
UK Inflation
- Is up 4.2% on last year, which was higher than the expected 3.9%.
- Core inflation is 3.4%.
- It seems a rate hike is imminent in December with these strong numbers and a strong recovery of the labour market.
Josh Stewart
Associate - Money Markets
Curve Securities: Term Deposits | Bonds | Yield Curve Specialists