BOE Chief Economist Warns Gas or Food Prices Could Trigger Rate Move
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Bank of England Chief Economist Huw Pill warned that a surge in food or natural gas prices could force policy makers to react if it shifted the outlook for UK inflation substantially.
Pill said Friday that the central bank is monitoring commodity prices “very closely” amid concerns about the risk of a winter jump in energy costs and a disruption to food supply caused by the collapse of a deal with Russia on shipping grain in the Black Sea.