BoE officials admit inflationary spiral is a growing risk

Deputy governor says “inflation mentality” could start influencing firms’ pricing decisions

Andrew Bailey
Andrew Bailey
Bank of England

Inflationary pressure is increasingly showing up in wage demands and firms’ pricing decisions, Bank of England officials said on May 16.

In comments to the Treasury Committee, deputy governor Dave Ramsden said there was “some inflationary influence coming through on wage bargaining”. He said “equally important” was firms’ pricing decisions, where there was a risk that an “inflation mentality” could set in.

The Bank of England has tightened policy in each of the four most recent meetings of its

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