Investing.com -- Bank of England Governor Andrew Bailey, in a recent interview, stated that inflation is showing signs of slowing down.
He also mentioned that the expected increase in price growth later this year is not likely to result in sustained inflation pressures in the economy.
Bailey attributed part of the inflation surge to regulated price increases, specifically for domestic commodities like energy and water. He also pointed out that the current lackluster state of the economy may act as a deterrent to inflation.
In his conversation with BusinessLive, Bailey stated, "The context is not really supporting the view that we will get more persistence, so we looked through that."
This suggests that the Bank of England does not foresee a sustained inflation scenario, despite the anticipated price growth.
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