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UK firms struggle to find staff, see higher inflation

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© Reuters. FILEPHOTO: A crowd walks past Bank of England on London’s October 31st, 2021. REUTERS/Tom Nicholson

LONDON, (Reuters) – British businesses are having difficulty finding the right staff and anticipate higher inflation over the next year according to a Bank of England survey. The Bank of England published the results on Thursday. It is currently weighing whether or not to increase interest rates.

According to the BoE’s Monthly Decision Maker Panel Survey, 85% of respondents found it more difficult to hire new staff than normal. 58% reported it was much harder.

Inflation was also expected to rise by 4.2% in year ahead, compared with 3.9% in October’s survey.

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