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Podcast: Beyond Currency
Episode: 5 December 2022 - Dhingra denies wages/prices spiral
Description: MPC member Swati Dhingra spoke recently of her view that although inflation still needs to be taken seriously by the Bank of England, it is not yet at the stage when a prices/wages spiral has begun.
Several sectors are threatening industrial action, but even their demands are for wage increases that are close to but not in excess of the rate of inflation.
In his Autumn statement, the Chancellor, Jeremy Hunt, confirmed that the triple lock on state pensions and certain means tested benefits would increase in line with the rate of inflation. The indicator used to measure the...