The pick-up in global price levels could start feeding through to the inflation rate, Andrew Sentance, a member of the Bank of England's Monetary Policy Committee, said on Wednesday.

Speaking to a property federation in London, Sentance said goods deflation had dampened higher-than-expected price growth before the crisis, but this was no longer so. "In current circumstances, we cannot rely on goods deflation to hold down the UK inflation rate- particularly while the impact of sterling's