monetary policy committee
– комитет по монетарной политикеnet immigration
– чистая иммиграцияwage inflation
– инфляция, вызванная ростом заработной платыOffice for National Statistics
– Национальное статистическое бюроclaimant count
–up by … per cent
– на … процентовInternational Labour Organisation
– Международная организация трудаunemployment rate
– уровень безработицыwage data
– данные по уровню заработной платыpaint the picture
– написать картинуrude health
– крепкое здоровьеBank\'s Inflation Measure at Record High
The Bank of England\'s target measure of inflation jumped to a record high last month as the decline in transport costs slowed and the cost of running a home rose.
The pound gained ground against other significant currencies as the City reasoned that stronger-than-expected prices data increased the likelihood of a rise in interest rates early next year.
The Office for National Statistics said that in the year to November, the consumer price index climbed by 2.7 per cent, up from a 2.4 per cent rise the previous month, the fastest pace of increase since January 1997. This is the seventh successive month that the CPI has been above the Bank\'s target of 2 per cent.
Although the measure had been projected to climb higher towards the end of 2006, Paul Dales at Capital Economics warned that, despite recent softer news on economic activity, the inflation report could «ensure that the MPC remains in tightening mode going into the new year.»
Mervyn King, Bank governor, has made it clear that with judgments about economic prospects difficult, greater importance will be placed on «developments in costs, pay and prices.»
The concerns that higher headline price rises could bolster consumers\' inflation expectations were also touched upon this week by Paul Tucker, the Bank\'s director for markets.
In a speech, Mr Tucker said he voted for an increase in interest rates at the MPC\'s November meeting because he wanted to head off inflationary wage demands and send a message that the Bank was willing to act to contain prices.
However, according to a survey by the Recruitment and Employment Confederation and KPMG, the professional services group, the rate of pay inflation for permanent jobs is running at the highest level for almost six years and at a 22-month high for temporary work.
The study said competition for talent against a background of rising demand for staff was pushing up wage bills. A series of recent high-profile private sector pay settlements, such as the annual rises of at least 4 per cent won by thousands of workers at Ford, Rolls-Royce and National Air Traffic Services, have suggested that annual wage demands increasingly are linked to the increase in the retail price index.
The RPI, which includes interest payments on mortgages, climbed in the 12 months to November by 3.9 per cent, up from 3.7 per cent in October and the highest reading since May 1998, said the ONS.
The main cause of acceleration in the CPI was the cost of transport, particularly petrol, where prices fell more slowly than for the comparable period last year.
Upward momentum was provided by increases in utility bills, particularly gas prices, and slower falls in the prices of electronic equipment.
Core inflation, a measure that excludes volatile items such as alcohol, tobacco, food and energy, climbed from 1.4 per cent in October to 1.6 per cent in November.
By Jamie Chisholm and Andrew Taylor
Слова и выражения:
acceleration
– ускорениеalcohol
– алкогольные напиткиbolster
– поддерживатьcomparable
– сравнимый, сопоставимыйgovernor
– управляющийlikelihood
– вероятностьlink
– связь; связыватьmomentum
– движениеmortgage
– ипотека, ипотечный кредитpetrol
– бензинproject
– планировать, проектироватьreason
– аргументировать, говорить аргументированноslow
– замедлять(ся)successive
– следующие друг за другомsurvey
– исследованиеtarget
– цельthe City
– Сити, деловой район Лондонаtobacco
– табачные изделияvolatile
– изменчивые, изменяющиеся, гибкиеtarget measure
– целевые показателиtransport costs
– транспортные издержкиrunning a home
– обслуживание жилищаgain ground
– укрепляться (CPI (consumer price index)
– индекс потребительских цен Capital EconomicsCapital Economics Ltd
– независимое консультационное агентство в Лондоне, основанное в 1999softer news
– «мягкие» прогнозы, новости