UK Businesses Plan Slower Price Rises Amid Inflation Concerns

The Bank of England's latest Decision Maker Panel has revealed that UK businesses are planning for slower price rises over the next 12 months, a trend that could influence policymakers' decisions on interest rates.

According to the survey, companies expect price growth of 3.8% in the coming year, down from 3.9% in the previous survey covering July.

Meanwhile, wage growth expectations remain steady at 3.4%, indicating that businesses see pay pressures as unchanged even as planned price increases edge lower.

The results reinforce expectations that the Bank of England will keep interest rates on hold this month amid inflation concerns.