Tight labour market adding to inflation pressures By Reuters

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© Reuters. British Chancellor of the Exchequer Rishi Sunak leaves Downing Street, in London, Britain, May 26, 2022. REUTERS/John Sibley

LONDON (Reuters) – A tight labour market and an energy price shock are causing inflationary pressures, Britain’s finance minister Rishi Sunak said on Friday, adding that he felt confident in the country’s overall economic outlook.

“We are experiencing inflation pressures from both a tight labour market, although that is something to celebrate, but also the energy price shock,” Sunak told BBC’s Radio 4.

“I’m very confident about the outlook for our economy over time.”

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