Central Banks
Bank of England Chief Economist Defends CPI as Inflation Target
Huw Pill rejected calls for a switch that excludes volatile items such as energy and food.
Photographer: Dominic Lipinski/BloombergThis article is for subscribers only.
Bank of England Chief Economist Huw Pill launched a staunch defense of the current inflation target, saying that any goal had to reflect the everyday experience of the British public.
Speaking at an Office for National Statistics event on Tuesday, Pill rejected calls for a switch to a measure that excludes volatile items such as energy and food, which have driven inflation into double digits over the past year.