Bernstein: Weak employment data in the UK helps relieve concerns about inflation.

In a report from Berenberg, Andrew Wishart stated that the UK's December employment data continued to weaken, easing concerns about potential inflation rebound. The unemployment rate in the UK from October to December increased from 5.1% in September to November to 5.2%. The average wage growth excluding bonuses slowed from 4.4% in the three months to December compared to the three months to November. Wishart said that these data may reassure members of the Bank of England's Monetary Policy Committee that "weakness in the labor market is leading to a slowdown in wage inflation."