BoE Monthly Decision Maker Panel data - December 2024

• Expectations for CPI inflation a year ahead rose from 2.7% to 2.8% in the three months to December.


• The three-year ahead CPI inflation expectations was 2.7% in the three months to December, 0.1 percentage points higher than the three months to November.


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  Expected year-ahead wage growth remained unchanged at 4.0% on a three-month moving-average basis in December.


• Firms therefore expect their wage growth to decline by 1.4 percentage points over the next 12 months based on three-month averages.


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  When questioned about the recent NI increase, on average over the November and December surveys, 61% of firms expect to lower profit margins, 54% expect to raise prices, 53% expect lower employment and 39% expect to pay lower wages than they otherwise would have done.

Reaction details (09:32)

Via BoE

Analysis details (09:31)

• The December DMP survey was conducted between 6 and 20 December and received 2,346 responses.

09 Jan 2025 - 09:30- Fixed IncomeData- Source: BoE