Pandemic period gains for stock markets and the resulting windfalls for investors have been cited by Federal Reserve (Fed) Chairman Jerome Powell for a sharp increase in retirements that is lifting pay growth for workers but also contributing to inflation and helping to drive interest rates higher.
Read more: Pandemic Market Rally Created "Excess Retirees" and Inflation Risk, Fed Says
New data shows UK house prices are falling and economists say this is just the start.
Read more: House Prices: 8-12% Decline Forecast by Economists
A member of the Bank of England's Monetary Policy Committee (MPC) warned the Bank risked losing its battle in bringing inflation down to its 2.0% target.
Read more: Bank of England's Mann: Inflation Risks Anchoring at 4.0%
Eurozone inflation data came at a lower-than-expected rate.
Read more: Good News on Eurozone Inflation Means ECB is Tipped to Hike 50bp in December
Bank of England statistics reveal an increase in the amount of money saved by earners, while credit lending is below longer-term averages and mortgage approvals are falling in response to higher interest rates.
Read more: UK Savings Boom Continues as Interest Rates Rise and Consumers Retreat
UK business confidence plumbed new lows in November and more firms intend to hike prices says Lloyds Bank.
Read more: UK Business Confidence Plumbs New Lows, Price Hiking Pressures Continue to Build
Leading indicators suggest job losses will soon drive unemployment higher and that it could climb faster than many forecasters expect, according to Pantheon Macroeconomics, meaning that a commonly-relented shortage of labour in the UK may now be about to dissipate as if it were a phantom.
Read more: Phantom Labour Shortage to Dissipate as UK Unemployment Overtakes Forecasts
