Industry Voice: There was bad news for the consumer as inflation moved higher in August, now rising at a faster pace than some measures of pay growth.
Melanie Baker comments on UK inflation, which is spelling bad news for the consumer as it moved higher in August. However, she believes the tight labour market should keep up pressure for pay rises over the coming months. Meanwhile, this stronger than expected inflation data is raising some questions for the Bank of England.
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Past performance is no guide to the future. The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not get back the amount originally invested. The views expressed are the author's own and do not constitute investment advice.
Melanie Baker is RLAM's Senior Economist with over 18 years experience in the financial sector. She started her career at Morgan Stanley where she was an economist analysing currencies. She was Senior UK Economist at Morgan Stanley and analysed the UK economy and political risk events for more than a decade. Her period covering the UK included the aftermath of the financial crisis, Scotland's Independence referendum and Brexit. She is a CFA charterholder and is also a Trustee of a local charity providing community childcare. She attended Edinburgh University and has a master's degree in Economics from University College London.