Russia
Ukraine
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PO1 William "Chip" Nagel
..."“Labor costs are by far the most important input for services, and are still very important inputs for manufacturing, so if wage rates are still growing very rapidly, even if commodity prices are coming down, inflation could persist,” Kroszner said.
Wages and benefits paid to US workers rose 4.6% in the second quarter from the same period in 2022, outpacing the broader rate of inflation.
Across the pond, annual wage growth in the private sector came in at 7.7% in the three months to May — “materially above” the Bank of England’s expectations, it said last week.
“The near-term outlook for pay growth is expected to be stronger than projected” in May, the central bank added in a quarterly report."...
..."“Labor costs are by far the most important input for services, and are still very important inputs for manufacturing, so if wage rates are still growing very rapidly, even if commodity prices are coming down, inflation could persist,” Kroszner said.
Wages and benefits paid to US workers rose 4.6% in the second quarter from the same period in 2022, outpacing the broader rate of inflation.
Across the pond, annual wage growth in the private sector came in at 7.7% in the three months to May — “materially above” the Bank of England’s expectations, it said last week.
“The near-term outlook for pay growth is expected to be stronger than projected” in May, the central bank added in a quarterly report."...
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