BoE’s Pill says UK vulnerable to inflation persistence

Huw Pill
Huw Pill
Bank of England

The UK could be facing higher inflation persistence than other countries as it is hampered by several structural problems at once, Bank of England chief economist Huw Pill said on January 9.

Pill noted many economies are facing unfavourable dynamics due to energy price shocks, supply bottlenecks, labour shortages and firms’ pricing power. But the UK is unusual in suffering from all of them at once.

“This simultaneity creates its own challenges for monetary policy,” Pill told an audience in New

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