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Bank Of England · Business Sentiment · Inflation · UK Economy
U.K. businesses, surveyed by the Bank of England in March, anticipate a slight increase in their selling prices by 3.5% over the next 12 months, up from 3.4% in February, while simultaneously expecting a slowdown in wage growth.
The Bank of England's survey, which polled 2,004 chief financial officers between March 6 and 20, revealed this outlook. Businesses reported an actual price increase of 3.7% in the year leading up to March.
This modest increase in expected price rises, despite a recent jump in energy prices following attacks on Iran in late February, indicates a cautious approach by businesses in their pricing strategies. This finding is considered reassuring for Bank of England policymakers as they prepare for their upcoming rate decision on April 30.
The data suggests that inflationary pressures from business pricing are contained, potentially influencing future monetary policy decisions.
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