Live Breaking News & Updates on Inflationary problem
Stay updated with breaking news from Inflationary problem. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
particularly striking is how the equivalent rate in the us and the euro zone has been declining, so the uk is a bit of an outlier, here. it does seem to have a bigger inflationary problem.- does seem to have a bigger inflationary problem. what is causina inflationary problem. what is causing it? — inflationary problem. what is causing it? why _ inflationary problem. what is causing it? why are - inflationary problem. what is causing it? why are we - inflationary problem. what is causing it? why are we the i inflationary problem. what is - causing it? why are we the outliers, versus the us, europe, and other developed economies? i versus the us, europe, and other developed economies?— versus the us, europe, and other developed economies? i think most of the inflation issue, _ developed economies? i think most of the inflation issue, in _ developed economies? i think most of the inflation issue, in most— developed economies? i think most of the inflation issue, in most major- the inflation issue, in most major economies, is linked to them labour markets, so businesses are struggling to retain workers and attract enough workers. as a result, they are having to pay higher wages, and because of that, they are then raising their selling prices to protect their profits. now, as i say, that is happening everywhere. but, there are a couple of reasons why it seems to be a bit more marked in the uk. 0ne why it seems to be a bit more marked in the uk. one is the effects of brexit, two, the effects of the pandemic. itjust means that wage growth is growing fast in the uk,
brexit has had a negative impact, although it's difficult to quantify exactly how negative? i would say that, yes. now, on the uk economy specifically, there is a view that we have a worse inflationary problem here. core inflation is higher than a lot of the rest of the g7, in fact, all of the rest of the g7. inflation is an issue. i mean, in the uk, i would say in many other countries too. i wouldn't make a big difference between small differences in numbers in core inflation, but what we are seeing quite universally is stubborn inflation. we are seeing that as being a more persistent problem than was anticipated. so we are not an outlier, though? i wouldn't... you know, there's an outlie in terms of what has happened with energy prices and food prices and so on, but more broadly, i would say that this is a problem that many other countries are facing. 0k. well, on that, you know, the need to raise interest rates, to stamp out inflation, that's creating a lot of anxiety here in the uk, because obviously, it is people's mortgage repayments
illness during the month. they had people stay on to cover those shifts as those workers were out. i think we're going to see another big number in february but really march is the number to watch out there. that's the economy bookings for spring break pick up and we'll see much more movement in terms of services. i think that's really important as well. >> right. obviously as you point out, a lot of times you have someone who you're employing but they're out and you have someone else, how much both those jobs exist, right? that's going to be a big question. >> 5.7%, nearly 6%. that's great news. i want to caveat that with in the midst of what some say could be a wage price spiral and a big inflationary problem that eats away at people's ability to drive, that's obviously the big concern. when you look at today's report, how does it make you feel about the inflation problem?