Is Inflation about to drop below 5%?

13:43, 14th November 2023
Justin Waite
Taking Stock

Taking Stock on Tuesday 14th November 2023

Taking Stock: Is a look at today's top business news & investment views plus we cover the winners, losers, the most read company news & the most followed. Today this includes:

Is Inflation about to drop below 5%?

At 7am tomorrow Inflation Data is released for the UK. This is what is forecast:

CPI (YoY) (Oct)

Forecast: 4.8%

Previous: 6.7%

Actual: ???

Companies discussed on “Taking Stock” today:

05:29 06:30 Ondo Insurtech #ONDO 
05:50 Good Energy #GOOD 
05:55 Destiny Pharma #DEST 
08:49 Kodal Minerals #KOD 
10:30 & 11:30 Horizonte Minerals #HZM 
10:55 Rockfire Resources #ROCK 
13:36 Inspirit #INSP 
13:50 & 19:59 Renalytix #RENX 
14:45 & 19:10 Premier African Minerals #PREM 
15:33 Greatland Gold #GGP 
16:28 Argo Blockchain #ARB 
18:30 & 22:03 Revolution Beauty #REVB 
20:30 Atlantic Lithium #ALL 
25:14 Zegona #ZEG 
25:35 Allergy Therapeutics #AGY 
27:09 & 29:01 Bushveld Minerals #BMN 
29:55 Fintel #FNTL 
30:25 & 32:00 Atome Energy #ATOM 
31:40 Invinity Energy Systems #IES 
32:48 Gaming Realms #GMR 
34:40 Tekmar Group #TGP 
35:00 & 39:12 Eurasia Mining #EUA 


Pay rises outstrip inflation by most for two years

Pay growth has outstripped inflation by the most for two years, in a further sign that the squeeze on living costs may be starting to ease.

Regular pay rose at an annual rate of 7.7% between July and September. That was higher than average inflation over the same three months, which measures the rate at which prices rise.

However, the number of job vacancies fell for the 16th month in row, in signs the jobs market is weakening.

Between August and October, the estimated number of vacancies in the UK fell by 58,000 to 957,000 - although the Office for National Statistics (ONS) said.

But while there may be relief for many as the gap between pay rises and inflation widens, it is largely due to slowing price rises rather than big jumps in pay.

Wage growth is actually dwindling in some areas as expectations of future price rises diminish and the jobs market starts to weaken.

The average pay rise awarded in September was the smallest for six months, and in the private sector the typical rise was the least generous since January.

What's more, some of the industries that were forced to push up wages last year due to skills shortages are now feeling the bite from higher interest rates and other costs.

The Bank of England thinks this could hit hiring, with unemployment rising to 5% next year - the equivalent to losing more than 150,000 jobs - which means wage growth is likely to slow further.

(Click here to read more)



Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Recent Articles