Economics

BOE Chief Sees ‘Apocalyptic’ Risk From Soaring Food Prices

Andrew Bailey says a series of shocks are buffeting economy
Remarks respond to criticism BOE was slow to act on inflation

WATCH: “The one I’m going to sound rather apocalyptic about is food,” Bailey says.Source: Bloomberg

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By Reed Landberg and Lizzy Burden

May 16, 2022 at 2:59 PM UTC

Updated on

May 16, 2022 at 5:40 PM UTC

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Bank of England Governor Andrew Bailey said a surge in food costs could have “apocalyptic” consequences for the poorest people in society and the global economy.