Lots of questions re UK inflation and rates. This is the nub of the problem for the BoE - labour market is much tighter than other DMs. Wage growth >6% is inconsistent with 2% inflation target when productivity growth is flat at best.

China's demographic problem in one chart

Key chart from our latest round of chart packs:

The debate around "Greedflation" muddles the distributional consequences of inflation with its underlying causes. Profit margins haven't expanded - but firms have been able to pass on higher costs. Which reflects the relative strength of demand. More here: capitaleconomics.com/blog/greedflat…

Yup

"Jackson Hole, if you're a bond investor, is kind of the main event this week." - Neil Shearing, Group Chief Economist at Capital Economics bloomberg.com/news/articles/…

Pleasure as always to chat to Matt Miller, Gina Martin Adams and Damian Sassower. Tl;dr: China matters but not for the reasons you think, and don't expect fireworks from Powell tomorrow. (Cue fireworks.)

Yep. Best estimate is that half the effects of tightening have yet to be felt.

Full report here: capitaleconomics.com/key-issues/eco…

From our US rapid on September CPI. Rise in core is all about shelter - which we know is about to fall... capitaleconomics.com/publications/u…

Yup

In his latest column Martin Wolf draws on our work on US-China fracturing. Analysis and data here - message me if you want access: capitaleconomics.com/publications/g…

On today's show with Frank Holland: Markets: Scott Ladner Travel: Stephen Grambling S&P 500: Neil Shearing Oil: Rebecca Babin Trading: Tiffany McGhee Reporting: SilviaAmaro, Bertha Coombs, Hugh Son, and Alex Sherman See you at 5am ET on CNBC!