LONDON - Britain has a bigger inflation problem than the United States or the euro zone, with both large headline price rises and growing signs of persistence in underlying pressures, Bank of England policymaker Catherine Mann said on Wednesday (May 31). Mann, who has been the BoE's keenest advocate of interest rate increases since she joined in 2021, also saw...
LONDON - Britain has a bigger inflation problem than the United States or the euro zone, with both large headline price rises and growing signs of persistence in underlying pressures, Bank of England policymaker Catherine Mann said on Wednesday .
Core inflation - which excludes volatile food and energy prices, and which Mann said was a better guide to future inflation trends - rose to its highest since records began in 1992 at 6.8 per cent last month. "There is a gap between the headline, which is incorporating energy which went up really high and now has come down, and core where we do start to see the implications coming through pricing channels, through wage negotiations, into something that is persistent," she added.
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