The Prime Minister's Plan to Block Pay Rises for Public Sector Workers

After more than three years, supply chains are actually back to some semblance of normality. The index suggests suppliers around the world now have the greatest level of spare capacity since the height of the COVID pandemic. Other barometers of supply chain pain, including from the New York Fed, are showing significant contraction. So overall, it seems for now that energy and food, along with improvements in supply chains, will win the day and provide welcome disinflation in the months ahead.