Sumary of ALEX BRUMMER: Sky high cost of labour means higher prices:
- It is too easy to explain away rocketing prices, up 3.2 per cent in August, as a one-off caused by the distorting effect of summer 2020’s Eat Out to Help Out plan.
- Underlying changes in the labour market, higher carbon pricing and shorter-term supply constraints affecting everything from natural resources to semiconductors cannot be dismissed simply as transitory.
- All of this before one even considers steeply climbing gas prices caused by the fire blazing on the UK-France interconnector yesterday.
- If margins are to be preserved there will be little choice but to raise prices.
- There are daily warnings from the likes of Made, Hornby, Dunelm, Halfords and the supermarkets about supply problems, which is certain to mean fewer discount deals for consumers if not overall higher prices.
- Darktrace is a product of Cambridge ingenuity, so the nation has a stake in chief executive Poppy Gustafsson succeeding.
- Beijing tolerance of the financial leakage on the gaming tables is coming to an end after it ordered a regulatory shutdown, which saw the Hong Kong-traded gambling stocks, such as Sands China, plummet.