UK firms dial back price and wage growth expectations – BoE

LONDON (Reuters) – The Bank of England said on Thursday that businesses expected slower increases in the prices they charge and the wages they pay to staff, citing the findings of a monthly survey.

Output price inflation expectations for the year ahead slowed to 5.2% in the three months to July, down by 0.1 percentage point from the three months to June, the Decision Maker Panel survey showed.

Expected year-ahead wage growth decreased to 5.0% in July from 5.3% in June, the BoE said.

The Decision Maker Panel survey of businesses was conducted between July 7 and July 21 and received 2,227 responses.

(Writing by William Schomberg; editing by William James)