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Inflation Pressures Growing in the U.K., Says NatWest’s Davies

  • Energy costs, labor squeeze pushing costs even higher
  • Central banks are playing catch up on rate hikes, Davies says
Ferries load and unload trucks at the Port of Dover Ltd. in Dover, U.K.

Ferries load and unload trucks at the Port of Dover Ltd. in Dover, U.K.

Photographer: Jason Alden/Bloomberg

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The U.K. is facing further strain from inflation, with pressure growing from import costs and a tight labor market, according to Howard Davies, the chairman of Natwest Group Plc.