UK firms' hiring plans are weakest since 2020, BoE survey shows

LONDON, Oct 2 (Reuters) – British businesses have the weakest hiring intentions since 2020 and expect the fastest consumer price inflation since early 2024, according to a Bank of England survey on Thursday which highlights the challenges facing the central bank. The Decision Maker Panel survey showed that businesses in the three months to September expected to keep employment steady over the next 12 months, the first time since the three months to November 2020 that they had not expected to increase staffing. More volatile single-month data showed expectations for a 0.5% rise over the next 12 months after a 0.5% drop in August. Businesses polled in September expect consumer price inflation to rise by 3.5% over the next 12 months, the fastest increase since December 2023. Three-month average expectations show an expected rise of 3.4%, the most since February 2024. (Reporting by David Milliken; editing by Sarah Young)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)